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Some home flood insurance rates could spike this year
Flood insurance rates across America inreasing
FOX 26 Consumer Reporter Heather Sullivan explains some of the changes coming to flood insurance plans and how FEMA s flood risk information is being used.
HOUSTON - A research group says homeowners in flood-prone areas could see much higher flood insurance rates starting later this year.
FEMA also just launched a new tool to help determine a home s true risk of flooding and will release new flood maps later this year.
A report by research group First Street Foundation suggests hundreds of thousands of U.S. homeowners could face major rate hikes, phased in over time, including in greater Houston.