Flood Insurance Rates May Rise
<div align="center"><a href="http://www.katc.com/news/flood-insurance-rates-may-rise/"><img src="http://www.katc.com/images/thumbnails/596BD722A878A5D6347BE12000214655_200_200.jpg" alt="Flood Insurance Rates May Rise" border="0" align="left" vspace="4" hspace="8"/></a></div><p>Hundreds of residents may see their flood insurance policies increase by thousands of dollars.</p><p>The National Flood Insurance Program is looking to fill budget shortfalls by increasing insurance premiums. <br />In 2012, Congress approved the Biggert Waters Flood Reform Act. Any homeowner who has experienced severe or repeated flooding will see a 25% annual rate increase starting October first until flood insurance rates reflect updated flood risk.
