New Flood Insurance Rates May Put You Underwater

Chicot Memorial

JACKSON, MS (Ben Caxton) — The National Flood Insurance Program will be up for renewal by Congress in July and Mississippi Insurance Commissioner Mike Chaney says rates will be going up. As of last August, there were about 65,000 flood insurance policies with a little over $15.5 billion dollars of coverage in force in Mississippi. The most recent flood maps were done in 2014 and some of them are being updated now. Chaney says anyone who thinks their property is subject to flooding should visit floodsmart.gov to see if they are in a floodplain and what their risk level is. Whether you’re in a floodplain or not, Chaney says flood insurance is cheap even though rates will go up 8% for just about everyone.

 


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