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 rate needs to more than quadruple on the nation’s most flood-prone homes under the ongoing effort to make the federal flood insurance program solvent and ensure homeowners most at risk are paying their fair share.
First Street data projects that the majority of homeowners won’t see big rate changes,
(Rick Egan | Tribune file photo) Traffic on 400 South in Salt Lake City on Tuesday, Jan. 5, 2021.
Utahns drove much less during 2020 because of the pandemic and its stay-at-home orders. But a new study says their auto insurance rates rose anyway.
