Flood Insurance Rates Go Up April 1 for Many Homes Along U.S. Coastline

"The surge that's scheduled to hit the American coastline Wednesday isn't coming from a hurricane, but it could still leave a feeling of helplessness in its wake.

Flood insurance rates are set to skyrocket when a new bill goes into effect on April 1. Known as the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA), it's going to drive the prices of flood insurance plans through the roof for residents of all U.S. coastlines.

How much could they increase? In some areas where flood maps show maximum risk, premiums that were previously $500 could be raised to as much as $20,000 a year or more, according to estimates released in 2013."

Sean Breslin reports for the Weather Channel March 31, 2015.

SEE ALSO:

"Flood Insurance Rates, Fees Increase Wednesday" (Island Packet)

"Flood Insurance Premiums Set To Rise About 20%" (Bergen Record)

"Cost of Flood Insurance To Go Up 20 Percent" (Sarasota Herald-Tribune)