Some property owners in Douglas County, Kansas, could soon pay more for federal insurance.
The federal government’s decision to phase out subsidized insurance in special flood hazard areas will increase costs for 168 property owners in Douglas County. Most of the property is along the Kansas and Wakarusa rivers.
Andy Megrail of the Federal Emergency Management Agency briefed Douglas County commissioners on the changes on Dec. 4.
The Lawrence Journal-World reports the first rate increases will be for all properties in special flood areas that are not used as a primary residence.
Those with primary residence in the areas will receive subsidized coverage as long as they own the property and if they keep the policies current. If the insurance lapses or the property is sold, full insurance rates will be charged.
Topics Trends Flood Property Pricing Trends Kansas
Was this article valuable?
Here are more articles you may enjoy.
Humans Still Matter to Insurance Consumers, Says Big ‘I’ Survey 
Buffett Steps Down as Berkshire Chair, Ending Six-Decade Run 
New York Law Confirms Insurer Liability for Bad Faith Includes Third-Party Claims 
The Big Data/AI ‘Revolution’ Is Driving Up Verdicts, Settlements as Plaintiffs Buy In 
