Senator Bob Menendez secured the following; – over $250 million dollars in additional flood claims, 5 years after the storm – over a Billion Dollars for a dune system for NJ. – over 60 Billion in Superstorm SANDY Aid – over 20 Billion in Mitigation funds to make us safer for the next storm.
He is now fighting to keep flood insurance affordable by sponsoring the NFIP RE Flood Insurance bill.
Sen. Menedez is sponsoring the NFIP RE Flood Insurance Bill.
– It will cap flood insurance premiums to only 9%, instead of up to 25% yearly premium increases. – It will make sure FEMA’s Rating 2.0 will not unnecessarily increase premiums. – Closed loopholes on denial of “Earth Movement” exclusions on flood policies – Stop abuses by insurance companies from denying and underpaying flood claims – Make affordability a priority. – Bold Investments in Flood Mitigation and Prevention. (Buyouts and Elevation Grants) – ICC Rising to $60,000 (Increased Cost of Compliance to elevate your home) – Instead of rebuilding after a flood, we need to prevent flooding in the first place. – Preventing a flood is a lot more affordable than paying to rebuild after a flood.
This bill has great Bipartisan Support – Senators Rubio, Warren, Kennedy, Cassidy, Menendez and many more support this bill.
We ask all flood policy holders, across the country, to call and email their congressmen and Senators and tell them to vote for affordable flood insurance and to vote for the NFIP RE bill.