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Old 09-26-2013, 04:32 PM
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dmtfish dmtfish is offline
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Join Date: Aug 2011
Location: Lake Charles, La
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Default Flood Insurance Hikes

Has anyone who lives in Flood Zone AE been notified of insurance rates going up?? I read where the Biggert-Waters reform act goes into affect Oct 01. I have not been contacted by my insurance agency notifying me of a rate increase. I purchased my home in Dec of last yr, fully aware I was in a flood zone. I was prepared to deal with flooding with the trade off being water access to prien. I am ok with paying 2000 a yr in insurance, but had no idea about this bill until the last couple months. Seems like RE agents and mortgage lenders should have had to be legally obligated to forwarn potential buyers of the rate increase. Anyway, I have not been notified by my insurance carrier, nor from the homeowners assoc (have coverage thru them as well). Can any insurance agents out there verify this will happen??
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