Planned changes in the National Flood Insurance Program have many people wondering if they can stay in their homes because they can't afford the cost of the insurance. The idea is to make the flood insurance program solvent.
We support that idea. But it seems to us they are moving too quickly. Many who live in flood zones may not be able to afford flood insurance. New flood maps are triggering much higher flood insurance rates early next year for some areas.
The rate hikes could drive many who live in flood prone areas out of the program altogether. That would hurt, not help, to balance the insurance program budget.
There is a move in congress to put a hold on the increases in the flood insurance premiums until 2015. We agree with this prudent action.
We need to give homeowners, businesses, cities, and counties the opportunity to mitigate what the new flood maps indicate before they go into effect, possibly avoiding dramatic rate increases.
That's our opinion, we would like to hear yours. Email your thoughts to email@example.com, or post your comments below.
WLOX-TV General Manager