Rep. Matsui Announces Flood Insurance Rate Extension in the Natomas Area
Rate extension sought by Matsui will save Natomas residents hundreds of dollars
WASHINGTON, D.C. – Today, Congresswoman Doris O. Matsui (CA-05) announced that FEMA has, at her request, agreed to allow all homeowners in the Natomas area that have signed up for flood insurance at the Preferred Rate Policies prior to December 8, 2008 to be able to renew those policies when they expire at the Preferred Rate Policy price for one additional year.
“This is an important step towards ensuring that residents have necessary flood insurance, while protecting hardworking Sacramento families from dramatically increased flood insurance prices,” said Rep. Matsui. “I am glad that FEMA agreed to my request of an additional one year extension of current rates. This decision reflects a sensible response to an ongoing issue that has caused legitimate concern within the community.”
On November 17, 2008, Congresswoman Matsui wrote FEMA Administrator David Paulson asking FEMA to allow local residents impacted by changing flood insurance maps to be able to get an extension on Preferred Rate Policies, which will save homeowners over $900 each year. Because of the delay in implementing the new flood zone map for areas of Sacramento and Sutter Counties , FEMA has agreed to Congresswoman Matsui’s request to give residents in these areas an additional one year extension in Preferred Rate Policies.
This new announcement from FEMA means that anyone that currently has a Preferred Rate Policy can renew it at that level next year, saving homeowners hundreds of dollars. For example, if you had purchased a lower cost Preferred Rate Policy flood insurance plan on November 1, 2008, it would have expired November 1, 2009. FEMA will now allow that policy to be extended at the Preferred Rate Price until November 1, 2010.
Woot! As the Buzz would say. As much as I hated having to buy the policy, glad it will stay low for another year. Hopefully, the levees will be completed on time…Trixie
This is a huge, huge win for Natomas. Big rep for Rep. Matsui!
This suggestion and advice was given to Rep Matsui by a local Farmers insurance agent, Jake Ice. Check out Decembers NMagazine where credit is given to him for her decision to approach FEMA with the request.
Even though I had to borrow to pay for the policy. I’m thankful you were able to help us. Thank you, thank you Ms. Matsui!