Flood insurance rates heading up - WLOX.com - The News for South Mississippi

Flood insurance rates heading up

WAVELAND, MS (WLOX) -

The rate increase homeowners, who carry flood insurance will soon see, will impact the City of Waveland extremely hard, according to city leaders. Waveland was ground zero after Hurricane Katrina.

A bill passed by Congress allowed the National Flood Insurance program to increase flood insurance rates by as much as 25 percent.

The flood zone maps re-drafted by FEMA in 2009 put most of the City of Waveland in a flood zone.

Less than a mile of the city is now considered high and dry.

"So now 90 percent of the city is in a special flood hazard area," said Mike Smith Waveland's Flood Plain Manager.

The Biggert Waters Act passed by Congress basically takes away the Government Subsidy or discount the flood insurance program gave policy holders.

Smith said, "It's a grave concern for us. One of my biggest concerns is that we will loose the majority of our residents because they just won't be able to afford the insurance."

Waveland resident Bill Power has already received notice his flood insurance rate is on the way up. He's not sure exactly how much, but says any amount is too much.

"It would probably break me. I've been trying to sell the house, but real estate is dead in Waveland. Right now if I could sell it I would move north of the Kiln some where and get out of this area," explained Power.

The city's flood plain manager Mike Smith said personally he will have to decrease the amount of his coverage and increase his deductible to make ends meet.

"Look at my example going from a potential 348,000 a year to 32,000 a year, that's a big difference," he said.

He said second homeowners and repetitive loss properties can expect to see that type of rate increases.

"This is going to affect everybody who lives on the Gulf Coast for sure," he added.

The National Flood Insurance Program has a website that will tell you how much your new flood rates will be by simply typing in your home address . www.floodsmart.gov

Copyright 2013 WLOX. All rights reserved.

  • NEWSMore>>

  • Diplan Earns First Double-A Victory As Shuckers Make it Six In A Row

    Diplan Earns First Double-A Victory As Shuckers Make it Six In A Row

    Sunday, July 22 2018 12:09 AM EDT2018-07-22 04:09:47 GMT
    Marcos Diplan prepares to pitch at MGM Park (WLOX Sports)Marcos Diplan prepares to pitch at MGM Park (WLOX Sports)
    Marcos Diplan prepares to pitch at MGM Park (WLOX Sports)Marcos Diplan prepares to pitch at MGM Park (WLOX Sports)

    The Biloxi Shuckers (58-40, 17-11) earned their sixth consecutive win on Saturday night with a 4-1 triumph over the Tennessee Smokies (50-49, 14-15) at MGM Park. RHP Marcos Diplan (W, 1-1) notched his first Double-A win by tossing 6.2 innings of one run ball.

    More >>

    The Biloxi Shuckers (58-40, 17-11) earned their sixth consecutive win on Saturday night with a 4-1 triumph over the Tennessee Smokies (50-49, 14-15) at MGM Park. RHP Marcos Diplan (W, 1-1) notched his first Double-A win by tossing 6.2 innings of one run ball.

    More >>
  • Search for shooting suspect happening in Biloxi

    Search for shooting suspect happening in Biloxi

    Saturday, July 21 2018 11:07 PM EDT2018-07-22 03:07:53 GMT
    Both males are wanted in connection with the shooting that happened at Martin Luther King Jr. Park on June 6.Both males are wanted in connection with the shooting that happened at Martin Luther King Jr. Park on June 6.
    Both males are wanted in connection with the shooting that happened at Martin Luther King Jr. Park on June 6.Both males are wanted in connection with the shooting that happened at Martin Luther King Jr. Park on June 6.

    Right now, Biloxi police are still searching for a gunman after a verbal dispute between two males became violent.

    More >>

    Right now, Biloxi police are still searching for a gunman after a verbal dispute between two males became violent.

    More >>
  • Families enjoy Blues Over Biloxi from a distance

    Families enjoy Blues Over Biloxi from a distance

    Saturday, July 21 2018 8:06 PM EDT2018-07-22 00:06:30 GMT
    Families pack beach and Broadwater Marina to watch Blue Angels. (Photo source: WLOX)Families pack beach and Broadwater Marina to watch Blue Angels. (Photo source: WLOX)
    Families pack beach and Broadwater Marina to watch Blue AngelsFamilies pack beach and Broadwater Marina to watch Blue Angels

    While thousands made their way to the great lawn at Harrah's, others opted to stay away from the congestion and watch the Blue Angels from a bit farther down the beach.

    More >>

    While thousands made their way to the great lawn at Harrah's, others opted to stay away from the congestion and watch the Blue Angels from a bit farther down the beach.

    More >>
Powered by Frankly