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Flood Insurance Relief Reaction

Flood insurance reform could be coming, but is it enough for local people.
TYRONE, BLAIR COUNTY - Flood insurance reform could be coming, but is it enough for local people.

Just this week the Senate passed the flood insurance reform bill. Now rates can only go up 18 percent annually. The House has already passed it and now it just needs the president's signature to become law.

Earlier this year people across the country got notices that their flood insurance rates were going up because of the Biggert Waters Act. Some people's premiums went up by thousands of dollars.

The topic came up at Adam Conrad’s Advance Academy for real estate agents. He told the agents people were very concerned about this issue. And the National Association of Realtors was lobbying for the change.

Zack Rackovan lives near the Little Juniata in Tyrone. He got one of those big insurance bills so he found a private company so he wouldn’t have to deal with FEMA. He has the same coverage and it costs far less than going through FEMA. He doesn't think the new reform does enough for people like him because eventually people will have to pay that full higher rate it just comes on gradually.

But Conrad thinks it will be enough to help people looking to sell property, even if it’s now in a flood plain.
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