The National Flood Insurance Program is Changing Effective October 1, 2021 for new policies and April 1, 2022 for existing policies!
FEMA is implementing Risk Rating 2.0 that more accurately calculates rates based on flood risk to the property. Properties will be rated individually based on the flood zone, areas of the property that are located in the flood zone, flood mitigation and urban drainage. According to the Ohio Department of Public Safety about 45% of policy holders (usually older homes) will see a decrease in premiums. About 45% of policy holders will see an increase of up to $10 per month with 6% seeing an increase of $10-20 per month and 4% seeing an increase of over $20 per month. Because the City of Lancaster participates in the Community Rating System, residents receive a discount on their calculated premiums. For more information see the Ohio Risk Rating 2.0.