Live in a Flood Zone? Check Your Insurance. It May Be About To Go Up

"A new federal flood-insurance reform law requires maps to take account of projected sea level rise in designating flood zones, as federal subsidies for properties in flood zones fade to zero."

"If you live on a coastline or in a river flood plain, check your flood insurance and where your home or business sits on the latest federal flood maps.

As of Oct. 1, the final stages of a 2012 flood-insurance reform law kick in, aimed at substantially reducing subsidies for federal flood insurance.

Premiums charged to most once-subsidized policyholders are slated to rise over the next four years, until the premiums reach the rate that reflects the true flood risk their properties face."

Pete Spotts reports for the Christian Science Monitor September 25, 2013.

SEE ALSO:

"Coastal, Riverbank Homeowners Brace For U.S. Flood Insurance Hike" (Reuters)

"Climate Experts Say Changes Needed as Flood Insurance Rates About To Rise" (New London Day)

"How the Insurance Industry Is Dealing With Climate Change" (Smithsonian)

Source: Christian Science Monitor, 09/26/2013