Friday, November 15, 2013

Flood insurance rate hikes up to 900 percent slam Florida |

Nightmares like this one keep happening until something is done at the Federal level. Click title for link.
Ask Aaron Greenwood. He purchased a home this year figuring the flood premium was $4,397 a year. He never imagined a nearly 900 percent increase to $43,885.
“I would not have purchased this home if I had been aware of the increased flood insurance premiums,” said Greenwood, 43. “I cannot pay the new premium. I cannot sell this home with a flood insurance rate of over $43,000 a year.”