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Friday, January 7, 2011

Flood Insurance Rates May Increase January 2011

It's not something we like to think about while sitting on the beach, but if you own a home on Oahu near the water, your flood insurance rates may increase this month. You can prevent an increase, but you will have to move quickly.


Here is some handy information:

The National Flood Insurance Program's new digital Flood Insurance Rate Map for Oahu will become effective on January 19, 2011.  Areas that are affected by the change include Hawaii Kai, Ala Moana-Kakaako, Ewa Beach and Makaha.

Oahu property owners are encouraged to purchase flood insurance at current rates before the change is implemented.  For more details, read FEMA's news release  HERE. Also, visit the official National Flood Insurance Program website at http://www.floodsmart.gov/

P.S. If you live in a condo, check with your AOAO.



 

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