Flood insurance premiums to decrease May 1 for buyers of older properties

The National Association of REALTORS® has worked to lower flood insurance premiums.

Now that effort begins to pay off for some homebuyers. NAR announced today that beginning May 1, buyers of older properties will get to assume an October 2013 flood insurance rate.

NAR has a great rundown of the changes and what homebuyers can expect here.

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About Jon Broadbooks

Jon Broadbooks is Vice President/Communications for Illinois REALTORS®. He serves as editor of online and print content for the association’s communications including the Illinois REALTOR® magazine and e-newsletters. He conducts spokesperson training seminars and oversees website development for the Association.

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