Flood-prone Delmarva homes could see huge hikes in insurance overhaul
Salisbury Daily Times Flood-prone homeowners in Lewes – about 2 of every 10 properties – could be on the hook for National Flood Insurance Program increases averaging 1,400% in coming months, according to recent data. If the data is correct, the change could be dramatic: on average, each flood-prone homeowner in Lewes could pay $35,000 more for their insurance. While the Federal Emergency Management Agency has not released details in advance, estimates released in February by the New York City-based research group First Street Foundation suggest thousands of Delmarva homeowners co...
Source: milfordbeacon.com
