More good news on the Flood Insurance front… FEMA recently announced the Flood Premiums and Rate Tables for 2015. Each October, FEMA issues the following year’s rate tables. Releasing the rate tables at this time provides insurance companies sufficient lad time to update their rate quote software. These rates will take effect this October 2014 and will be used to calculate refunds to be issued later this fall. According to FEMA’s memo: “In every case, the attached rates are the same or lower than the October 1, 2013, premium rates”. In other words, no one will see a rate increase next year, and some could see a further rate reduction below this year’s level. This is on top of the rate reductions FEMA implemented last month when it rolled back all rates so no older (pre-FIRM) property owner could pay more than 2013 subsidized rate for the rest of the fiscal year.