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Published January 30, 2014, 05:09 PM

Senate passes bill to delay increases in premium for flood insurance

In Washington Thursday the Senate passed a bill that will delay increases in premium for flood insurance. Now homeowners in the flood plain won't see any rate increases for the next four years.

In Washington Thursday the Senate passed a bill that will delay increases in premium for flood insurance. Now homeowners in the flood plain won't see any rate increases for the next four years.

According to Senator John Hoeven, these insurance hikes were coming from FEMA who was using a "one size fits all" premium for houses in the 100-year flood plain. So areas that aren't prone to flooding were seeing huge insurance hikes. This new bill will post-pone any increases and force FEMA to conduct a 2-year affordability study, where they have to base premium increases on areas that are more likely to flood.

John Hoeven said, "Well this is important because it will make sure that flood insurance rates are not increased without, first, an affordability study."

Sen. Heidi Heitkamp said, "We're doing some things here in the first couple weeks of this year of this congress that I think are good for North Dakota and good for the country."

Now Congress will work on a cooperative flood insurance bill in the House.

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