Why filing a flood claim with FEMA will not likely increase homeowner insurance rates

You know how homeowner’s insurance rates, especially for homes in high flood zones have increased in recent years, so you may be fearing another hike after Helene. Experts say that is not as likely as you might expect.

Homeowners insurance covers wind damage and most of the damage in Pinellas County was water damage, covered by the federal flood program. While the losses to Helene will be in the range of two-billion dollars, the experts say, because that is covered by a federal program, the payouts will be shared by many more people.