Learn about FEMA’s new flood insurance risk rating changes on August 24
The Federal Emergency Management Agency (FEMA) is updating the National Flood Insurance Program’s (NFIP) risk rating methodology. Known as Risk Rating 2.0, this is the first significant update to the NFIP rating in almost 50 years.
New risk ratings based on industry best practices will be used to update flood insurance rates. The new flood insurance rates will better reflect real risks and will be easier to understand. New policies beginning October 1, 2021 and policies renewing on or after April 1, 2022, will be subject to the new rating methodology.
The San Francisquito Creek Joint Powers Authority and its member agencies invite you to join them for a webinar presentation on Tuesday, August 24, from 10:00 to 11:00 am about the new FEMA Risk Rating 2.0.
The City encourages you to attend as approximately 40% of Menlo Park policyholders will receive a monthly flood insurance premium decrease and 51% of local policyholders will receive an increase of less than $10 per month.