With a major overhaul of the nation’s flood insurance program just months away, new data released Monday by the First Street Foundation suggests hundreds of thousands of homeowners in the riskiest locations across America could face massive rate hikes starting in October. The Brooklyn, New York-based research group estimates the average […]
flood
Climate change is increasing flood risk around the country. Insurance rates are not keeping pace, report finds
At this time, there are practically 4.3 million residential houses about the country with a significant danger of money loss due to flooding. The report defines “significant chance” as carrying a 1% probability of flooding in any 12 months. Some, but not all, of these house owners have insurance policy […]