46°F
Sponsored by

Rate Hike Threatens Homeowners

Imagine getting a letter that says your insurance premium is going from about a thousand dollars to eight thousand dollars.
TYRONE, BLAIR COUNTY - Imagine getting a letter that says your insurance premium is going from about a thousand dollars to eight thousand dollars. That's exactly what happened to one local family and they're not alone.

Rivers criss-cross through Central Pennsylvania, now living a few blocks from one could chase a Blair County family out of their home.

Congress passed the Biggert Waters Act in 2012 to stop the National Flood Insurance Program from going broke. But now 33 thousand people in Pennsylvania could see massive rate hikes; Zack Rackovan is one of them.

When he and his wife bought their home shortly before the bill passed their flood insurance was $1,200 a year. They recently got a letter saying their new premium will be more than $8,200 a year. There's been water in the basement once in the home's history.

Friday Senator Bob Casey met with other people concerned about the hike. He’s urging his colleagues to delay enforcing the rate hikes.

Meanwhile, Rackovan has found a policy from a private company he hopes will cover him, but it still needs to be approved. What he really wants is for lawmakers to change the law threatening his home.
Page: [[$index + 1]]
comments powered by Disqus