Hurricane Sandy

Politics & Government
6:58 pm
Thu December 26, 2013

Oregon Homeowners Face Steep Increase In Flood Insurance Premiums

Credit USGS

Recent changes made to the nation's flood insurance program could cost Oregon homeowners tens of thousands of dollars a year.

After paying out huge insurance claims for storms like Hurricane Sandy and Katrina, the National Flood Insurance Program is about $25-billion in the hole. Congress passed a reform act in 2012 that took effect this October. The Director of the Lincoln County Planning and Development Department is Onno Husing. He says Congress didn't fix the problem, but passed the cost onto homeowners and buyers.

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