Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Newspaper contacts | All Access E-Edition | Home RSS
 
 
 

Flooding Harrisburg

State House hears impacts of federal insurance law

January 28, 2014

HARRISBURG — Homeowners, housing counselors and home-finance professionals all forecast the same dark outcomes from the impacts of the Biggert-Waters Flood Insurance Reform Act of 2012 at Monday’s......

« Back to Article

 
 
sort: oldest | newest

Comments

(22)

mikekerstetter

Jan-28-14 3:51 AM

I get confused over just what is happening with these insurance premiums. In an article back on November 1st, is says Mr. Smead's premium would go from $792 to $2400 next (this) year. According to this article, his premiums went from $756 to more than $11,000.

This article says he got an Elevation Certificate and their rates went higher (presumably because they are at a higher risk than previously thought) and 'protests brought the rate lower', but the premiums would increase by 25% each year until they get to the full premium. It doesn't say whether that full premium is the previously mentioned $2400, $11,000 or the $10,000 number he's mentioned other times.

If the article is correct and the rate is increasing by 25% the $792 premium would increase by $198 to $990 this year and would take slightly more than 11 years to get to $10,000. That is hardly the $9000 overnight increase we have heard some people claim.

So what is the real story on these increases?

0 Agrees | 0 Disagrees | Report Abuse »

Tgrammiex4

Jan-28-14 4:43 AM

This mess is very confusing. It seems there are more questions then answers. Our ins. went up 50%.I called our agent and he wasn't able to give me any answers.I pulled out our policy and nowhere does it state that our rate is subsidized. I had never heard of this prior to BW.It seems that Fema kept policy holders in the dark about this bill and the impact it would have till after it was passed.I know we received no warning from our ins. provider.

1 Agrees | 0 Disagrees | Report Abuse »

susquehannaretriever

Jan-28-14 5:30 AM

Everyone that posts here: THis is the last time I will be posting, probably to the relief of alot of you, mostly Mike. I not only have to fight the federal government to save my home, and others' homes, but also my supposed county neighbors. I will no longer be reading these posts as it gets to be too much and too frustrating. I can only continue to do what I am doing.Mike, first of all that was not what I reported to that Hsbg. committee. What I stated, from my prepared statement, was that I paid $792. in 2013;my premiums will rise 25% per year. THis year it is $996. Eventually it will get to $10,960 so yes we will eventually pay that figure.It still is a future cloud hanging over our heads.I have ALWAYS explained that initially in all this abortion of a mess I was quoted an estimate, BY A FEMA REP, a figure of $10,960. That is when they were insisting our home was not grandfathered in due to a lapse in policy after paying off our mortgatge.The $9,000 I gave was for a neighbor

0 Agrees | 0 Disagrees | Report Abuse »

susquehannaretriever

Jan-28-14 5:36 AM

Jeff Waltman, who lives a 1/2 block from me. He has a $60,000 home, he received his premium on 12/02 and had to have it paid on 12/31.I have done NOTHING but tell the truth here MIke and TXgrammie is correct it gets confusing; I understand your confusion, if that is what it is.My wife and I are ok, FOR NOW, but we continue to fight for others now and ourselves in the future.I know the difference between right and wrong and this is wrong.You can reply to the post or not, I will not be reading it.As stated it is too frustrating and upsetting to do what I need to do to fight my federal gov't and then argue with my supposed neighbors also.Research Mike, read something besides the Sun Gazette, form your own opinions not based on what you preceive to be true but what is true.I always got along with you previously, I honestly have no time, energy or reason to fight you too.As far as what others think regarding this issue, my give a*****is busted. Take care

0 Agrees | 0 Disagrees | Report Abuse »

susquehannaretriever

Jan-28-14 5:38 AM

Txgrammie if you would like more info. please get on the Stopfemanow dot com website and read.Also you can contact me and I will get you answers, both from our experiences and others in this situation, if you want.

0 Agrees | 0 Disagrees | Report Abuse »

SilverFeather

Jan-28-14 6:35 AM

"Charges Filed In Fatal Crash" Well, I certainly understand why they disabled the comments on that story!

5 Agrees | 0 Disagrees | Report Abuse »

MimLogue

Jan-28-14 6:58 AM

Mike Kerstetter this law needs to be repealed go to stopfemanowLycoming county The real problem is still our property values have taken a dive? How do u fix that.?? 85 million people have the same problem. All the big wigs came our for this meeting, I"d be scared.

0 Agrees | 0 Disagrees | Report Abuse »

MimLogue

Jan-28-14 7:04 AM

susquehannaretriever most people do get it! Believe me, I know the stress trying to educate people in this area, Do your best, stick to your guns,Everything will be alright!! We are all in the boat with you.

3 Agrees | 0 Disagrees | Report Abuse »

rsrobbins

Jan-28-14 8:34 AM

My flood insurance did not go up. Once again, there is no mention of the homestead exemption.

1 Agrees | 0 Disagrees | Report Abuse »

mikekerstetter

Jan-28-14 1:46 PM

MimLogue-"The real problem is still our property values have taken a dive? How do u fix that.??"

Mim, personally, I wouldn't buy a property in a flood zone, the risk just isn't worth it to me, so your property is of no values to me. I bought a house on Third street in Montgomery that was just on the fringe of a FEMA 100 year flood map back in '96. I asked the EMA Coordinator if the house ever flooded and he said it didn't, either in '36, '72 or any other floods, and gave me a statement as such. FHA accepted the statement and dropped the requirement to have flood insurance. The previous owner didn't need it, I didn't need it, but the people who bought it from me in 2000 were required to get it.

I wasn't comfortable living there and cringed every time they called for river flooding even though it never even came close while I was living there and had never flooded before.

0 Agrees | 0 Disagrees | Report Abuse »

mikekerstetter

Jan-28-14 1:48 PM

Cont'd

Most landlords I know love buying properties in flood zones because they can get them dirt cheap and rent them for a big profit. Of course that was before Biggart-Waters. The premiums probably cut into your profit quite a bit.

0 Agrees | 0 Disagrees | Report Abuse »

mikekerstetter

Jan-28-14 2:00 PM

It's not about fighting Jeff, it's a difference of opinion. And it's trying to understand the whole problem. The picture is becoming clearer with each bit of truth that comes out.

0 Agrees | 0 Disagrees | Report Abuse »

johnnyad3

Jan-28-14 4:24 PM

IMO-There is probably nothing better than living along one of our creeks. Doing so, however, does come with risk of a flood. For a person who bought their home say 10 years ago with a mortgage to all of a sudden have to pay these astronomical rates is wrong.

There needs to be some kind of plan for homes purchased before July 2013. It will cost though. If you decide to stay in your little piece of heaven, you will need to make arrangements. If you have a basement, fill it in and move water heaters and other such appliances like oil tanks above the BFE to avoid pollution. Another option is to elevate the whole place above BFE. Lookin said if people along the shore had to obey what we have to, there wouldn't be a home within 50 miles. Many homes who were on pilings at the Jersey shore had some cleanup only as the water never got in the house. I heard homes here on pilings had minimal insurance hikes in the range of $20-30.

0 Agrees | 0 Disagrees | Report Abuse »

johnnyad3

Jan-28-14 4:26 PM

FEMA could offer low interest loans instead of high premiums if you decide you want to stay and take mitigation actions.

If a homeowner decides not to stay because either option results in bankruptcy, FEMA can buy them out at a reduced price but allow the loan to be forgiven so it doesn't hurt the homeowners credit score allowing them to buy something out of the flood plain.

0 Agrees | 0 Disagrees | Report Abuse »

CaymanJim

Jan-28-14 7:00 PM

The Governors's Mansion is on Harrisburg's Front Street. If memory serves, it was brand new when inundated by the Agnes flood of 1972. If this asinine flood insurance bill is not repealed, how much more will the taxpayers of Pennsylvania be expected to pay to keep our "ship of state" afloat after the next flood event? Perhaps we, as voters as well as taxpayers, should insist Mr. Corbett, et al, vacate the "Taj" Mansion ASAP and set up his government at a Motel 8 in rural Podunk, PA...Zipcode E-I-E-I-O. We could probably save a few bucks on that one. Maybe we could also count on his support to lobby Congress to repeal the most stupid law ever to be enacted.

0 Agrees | 1 Disagrees | Report Abuse »

jeffsmith

Jan-29-14 12:27 AM

The Harrisburg BFE is magically 5' below the 1972 Agnes crest. This is also below the 1936 crest. No such magic in our area.

0 Agrees | 0 Disagrees | Report Abuse »

mikekerstetter

Jan-29-14 3:19 AM

BFE: The computed elevation to which floodwater is anticipated to rise during the base flood. Base Flood Elevations (BFEs) are shown on Flood Insurance Rate Maps (FIRMs) and on the flood profiles.

Base Floods: The flood having a one percent chance of being equaled or exceeded in any given year. This is the regulatory standard also referred to as the "100-year flood." The base flood is the national standard used by the National Flood Insurance Program (NFIP) and all Federal agencies for the purposes of requiring the purchase of flood insurance and regulating new development. Base Flood Elevations (BFEs) are typically shown on Flood Insurance Rate Maps (FIRMs).

Given those two definitions, it is not 'magical' that Harrisburg's BFE might be 5' below the crest of the worst flood on record. It's the level at which a flood has a 1% chance of occuring every year.

0 Agrees | 0 Disagrees | Report Abuse »

Montgomery

Jan-29-14 7:08 AM

How can ANYONE argue that this Act is ok or that it is the homeowners fault for purchasing a home in the flood plain? It is absurd to think that a homeowner pay a yearly premium to cover a "possible" total loss. This Act is a conspiracy. And for those of you that think this won't affect you because you don't live in the "zone" are being extremely naïve. Townships and Boroughs are GOING to lose tax revenue and the only way to make it up is to tax the ones left. Insurance companies are NOT going to stop with flood insurance, if they know there is government backing them in charging ridiculous fees, then whats stopping them from raising homeowners based on fire department response records or proximity to fire hydrants or volunteer vs paid status? NOTHING!! Get smart people...we should be supporting those in our communities, not working against them!

0 Agrees | 0 Disagrees | Report Abuse »

Montgomery

Jan-29-14 7:13 AM

It is easy to agree with this Act if you aren't the ones affected.

0 Agrees | 0 Disagrees | Report Abuse »

Justin1

Jan-29-14 8:25 AM

I think it's ironic that we have an article titled "Flooding Harrisburg" but there is no mention of any of this on the PennLive/Harrisburg newspaper website. Guess this isn't news worthy in other river towns.

0 Agrees | 0 Disagrees | Report Abuse »

mikekerstetter

Jan-29-14 6:32 PM

Montgomery-"then whats stopping them from raising homeowners based on fire department response records or proximity to fire hydrants or volunteer vs paid status?"

You are aware that this already happens, don't you? That's why they (the insurance company) ask how far you are from a hydrant and responding fire department.

0 Agrees | 0 Disagrees | Report Abuse »

susquehannaretriever

Jan-29-14 7:43 PM

Should have said this earlier but if you're interested in facts, hearing stories and seeing the results of this horrenduous legislation, come take a look at StopFemaNow dot com. We are made up of average homeowners who are fighting for our homes and others. Come join us.

0 Agrees | 0 Disagrees | Report Abuse »

Showing 22 of 22 comments
 
 

Post a Comment

You must first login before you can comment.

*Your email address:
*Password:
Remember my email address.
or
 
 

 

I am looking for:
in:
News, Blogs & Events Web