Flood Zone Map Changes Could Mean Higher Flood Insurance Costs

July 18, 2012 12:00 AM
Flood Zone Map Changes Could Mean Higher Flood Insurance Costs
" QUINCY (CBS) – It just got more expensive for some people to own a home. It’s not rising interest rates, but another cost that will impact some homeowners.

WBZ NewsRadio 1030′s Mark Katic reports.

Download: katic-flood-insurance-1.mp3

Who doesn’t like the idea of owning waterfront property? As of Tuesday, that got a lot more expensive because FEMA was ordered to update their flood maps.

“Part of the bill by Congress sets forth a group to study getting better mappings so that they can make more precise predictions on where the floods are gonna happen,” said Geoff Gordon of Gordon Insurance in Norwell.

Now, more homes are listed in high-risk flood zones "

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