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Flood Insurance Reform: Shore to Pay More in the Future

Asbury Park Press (

Likely changes to the National Flood Insurance Program are poised to raise costs for many Shore homeowners, perhaps substantially.

Meanwhile, uncertainty over the program is already taking a toll as potential purchasers are reluctant to buy waterfront properties with such a big financial question still unanswered.

The program, which insures roughly 1 in 15 housing units in New Jersey, remains in limbo as Congress wrangles with broad spending questions and other policy priorities.


“At the end of the day, the idea is that this is something that affects every state,” said Alan Rubin, a principal at the Washington lobbyist Blank Rome LLC. “In the middle of the country, you have the Mississippi, you have the Colorado River and on the coasts, you have flooding risk all over.”

Premiums are almost certain to rise for policyholders to better reflect the cost of providing the coverage, said Rubin, an expert on natural disaster recovery.

“You’re not going to see a $500 increase in your flood insurance tomorrow, that’s not going to happen,” he said. “It’s going to be phased in, over 5 to 10 years.”

It’s likely that coastal communities will be hit harder.

“You’re going to have to pay more for your flood insurance if you live in beautiful Cape May than if you live in the middle of the country,” Rubin said.

To read the full article, please click here.

“Flood Insurance Reform: Shore to Pay More in the Future,” by Russ Zimmer and Jean Mikle was published in the Asbury Park Press ( on February 5, 2018.