Recent government changes in flood insurance policies are creating trouble for local homeowners. Increased rates in local high-risk areas such as Buena Vista, Cornwall and Vesuvius have made it harder to buy and sell homes. The Biggert-Waters Flood Insurance Reform Act of 2012 required The National Flood Insurance Program to raise insurance rates for old properties that have been deemed “zone A’s,” or high-risk flooding areas.
Patrick McCarron has this report.
