View this article online: https://www.insurancejournal.com/news/east/2013/07/07/297633.htm
Kent County residents and leaders in Delaware are getting their first look at new flood maps and worrying about the impact on flood insurance rates.
The News Journal reports that federal officials unveiled new flood maps for Kent County on July 2. It is first in the rollout of maps statewide.
Final approval for the maps that affect the federal flood insurance rates is expected next year. The Federal Emergency Management Agency has been ordered to make its flood insurance program self-sustaining.
New rates will affect vacation homes that aren’t primary residences first and business in high hazard areas next. FEMA’s David Bollinger says vacation home owners could see rates increase 25 percent annually over four years.
Craig Pugh, the mayor of Leipsic, Del., says he’s worried about affordability, especially for low-income residents.