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Officials concerned with flood insurance rate hikes

November 21, 2013

County and municipal officials discussed the effect the passing of the Biggert-Waters Flood Insurance Reform Act of 2012 is having on the area, as many in the county’s flood plains are seeing......

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(6)

johnathan

Nov-22-13 9:02 AM

DavidB is right, rates are rediculos, you are required to have replacement coverage, how many home were around here were a total loss? A home @ 80,000 needs 250,000 replacement insurance, what a joke! Same with all of our insurance! If it happens only a fool would rebuild on same location when you could buy cash better home in much better location, help it rain!

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DavidBross

Nov-21-13 10:02 AM

Flood insurance rates that don't accurately reflect the true cost, are a way of subsidizing folks who live near the water. I imagine there are many such subsidies for folks who are not on welfare, food stamps, etc.

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jeffsmith

Nov-21-13 9:10 AM

...until you have to or want to move. In the long term, you will end up paying the property taxes for these properties too as they lose their assessed value.

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rsrobbins

Nov-21-13 8:49 AM

This worried me but fortunately the rate hike does not effect you if your home is your primary residence.

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jeffsmith

Nov-21-13 8:49 AM

Muncy's BFE is 4' over the 1972 Agnes crest. There's gonna be a lot of people in Muncy losing money and their home values over this that never had water.

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MimLogue

Nov-21-13 8:06 AM

Jeff Wheeland needs tos tart reducing the taxes on these parcels 1,000$ a year, yeah right?/ this is the biggest government debacle. I lost 28,000 in flood of 96, millions came into the county they helped us with nothing !!! corrupt republicans and I paid insurance on all my buildings but 1, this is corruption taking money from the hard working people who bought homes..SCAMMMM and they will get away with it.

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