Residents probe insurance issues
read more recent story comments Reader comments| golforegal53 Saturday, July 16, 2011: 11:36 pm More from golforegal53  | Please check with your insurance agent; Mr. Hale has misspoken ( again!) Once the maps go into effect, you will be required to have flood insurance if you have a mortgage.. If you have gone to a no/low risk flood zone to a high risk zone A, then your rates will be grandfatherd for 2 years at the no/low risk rate. AFter 2 years, the rates then go up to the Standard rate but you will NEVER have to pay high risk rates . HOWEVER.....if you sell your home after the 2 year granfathering , the new owners will have to pay the high risk rate which is THOUSANDS of dollars. THANK YOU FEDERAL GOVERNMENT FOR MAKING MY HOME WORTHLESS WHEN IT HAS NEVER HAD A DROP OF WATER IN IT ! |
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