Flood-insurance reprieve may be brief
| By David Hurst, The Tribune-Democrat, Johnstown, Pa. | |
| McClatchy-Tribune Information Services |
Then, because of a 2012 law seeking to pull the government's Flood Insurance Program out of debt, the annual cost to insure it rose to
"Outrageous,"?she said.
A similar outcry nationwide has prompted lawmakers to roll back premium costs in high-risk zones to 2012 rates. But for many policyholders such as Uzelac, it may be a temporary reprieve, soon to be replaced by smaller but still significant hikes, lawmakers admit.
The exact effect on
For business owners, the cap will rise 25 percent annually.
Disasters such as hurricanes
When it passed, the bill's supporters said disaster payouts were often boosted by inflated local market rates in coastal towns. The law's changes also increased rates in small towns and river cities across the country, sparking outrage nationwide.
The
U.S. Sens.
"These affordability measures will help ensure that we have a strong, sustainable flood insurance program that does not hurt local property markets or burden homeowners with unaffordable premiums,"?Casey said.
U.S. Rep.
U.S. Rep.
"This doesn't solve the big problem," Uzelac said. "How does someone in an area like
In
It could be a while before those who've been hit with massive rate increases see their rates rolled back, he said.
"We still don't know how
High-risk policies by municipality
Those with high-risk flood insurance in the region will see massive rate hikes rolled back -- but not for long. These figures detail the number of flood insurance policyholders impacted, followed by the percentage they comprise of total flood insurance policyholders in the community:
Croyle Township: 16 (50%)
Geistown: 5 (42%)
Lilly: 2 (67%)
Lorain: 5 (71%)
Lower Yoder Township: 1 (10%)
Southmont: 3 (50%)
Stonycreek Township: 74 (88%)
Upper Yoder Township: 9 (56%)
Benson: 6 (75%)
Elk Lick Township: 5 (45%)
Fairhope Township:?1 (50%)
Jenner Township: 1 (20%)
Larimer Township:?1 (100%)
Lincoln Township:?3 (43%)
Lower Turkeyfoot Twp.:?4 (40%)
Middlecreek Township: 14 (58%)
Quemahoning Twp.: 12 (57%)
Shade Township: 6 (86%)
Stonycreek Township: 5 (25%)
Upper Turkeyfoot Twp.: 1 (33%)
Ursina:?2 (33%)
___
(c)2014 The Tribune-Democrat (Johnstown, Pa.)
Visit The Tribune-Democrat (Johnstown, Pa.) at www.tribune-democrat.com
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| Wordcount: | 838 |


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