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BRICK, NJ — Because flood insurance premiums are slated to become “astronomically high,” Senator Robert Menendez is pressing for an alternative bill that would freeze flood insurance premiums for two years, according to the Brick Patch.
Menendez, who was joined by local homeowners, explained that, because Federal Emergency Management Agency (FEMA) flood maps put much of the Jersey Shore in flood zones, they feared that flood insurance would make living even a mile from a waterfront unaffordable, the article stated.
According to the article, Menendez’s bill, Homeowner’s Flood Insurance Affordability Act, “also calls for FEMA to base its flood maps on scientific and engineering studies complete two years from now, instead of creating maps without the benefit of the two-years’ study.”
Click here to read the article in its entirety.