Senate Passes Flood Insurance Bill

The Senate passed a flood insurance bill that will keep flood insurance hikes in check. The Flood Insurance Bill will be put in place for both residential and commercial properties. The bill will limit premium increases to 18 percent annually on newer properties and 25 percent for some older properties. There will also be a small assessment on policies until everyone is paying full cost for flood insurance. Proponents against the bill suggest that the rich homeowners along the coast are taking advantage of the rest of the country but there are many people that live along the rivers, streams and lakes that will be affected. http://www.realestateresource.tv