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Flood Insurance Premiums To Increase

Many home owners who live in areas that are threatened with flooding are worried about what may be a significant hike in insurance premiums.

The Federal Emergency Management Agency is trying to reduce $24 billion deficit in the federally run flood insurance program.

The only way to avoid a hike is to move or hope that Congress acts to delay or soften impending rate hikes in the next few days.

Nearly 4 million people could be affected.

Some Hoosiers could see rates go from just under $2,000 annually to $8,000 or more.

Also affecting rates are new topographical surveys that show where flooding might occur.

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