Flood Insurance Rates Could Skyrocket Beginning October 1
A federally mandated study concerning the affordability issues related to the National Flood Insurance Program will likely not be completed for another two years. Despite that, rate hikes for flood insurance premiums are scheduled to begin on October 1 as federal subsidies begin to be eliminated. Some fear that the increases could be as high as 3,000% and could force people out of their homes. [9/19]