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Rise in government insurance rates to mirror rising waters, flood debt
The Washington Post: At her small beach house that sits in a flood zone, Nancy Loft-Powers worries. The prospect of rising water, she said, isn’t what bothers her. It’s the expected rise in the cost of her $7,500 yearly flood insurance.
“My insurance is more than my mortgage,” Loft-Powers said in a phone interview from her year-round home in Deerfield Beach, Fla., near Fort Lauderdale. “I live by the beach in an old neighborhood. I pay [too much] insurance for a crap house that’s not great.”
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