A bill winding its way through Congress has the potential to more than double flood insurance premiums over the next four years for owners of vacation homes and commercial properties in flood-prone areas, The Wall Street Journal reports.
The proposed increases under the bill would likely more than double premiums for about 44,000 policy holders, according to estimates. Those policy holders currently pay on average about $1,174 per year.
The Senate is expected to consider the bill this week.
To read the full article, click here: Realtor Mag