With a bipartisan vote of 306-91 the House of Representatives agreed to limit rating increases to premiums of the National Flood Insurance Program. The discussion still continue and the proposed bill need to pass the Senate before making it to law. The voted proposed changes will eliminate the changes done in 2012 that required FEMA(Federal Emergency Management Agency) to increase premiums to match flood risks. The program is under severe debt because of this mismatch between risks and cost of insurance.
In the meantime; homeowners can continue to benefit from current rates.