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Homeowners insurance policies set to rise with new flood zones

Posted On Mon, January 31, 2011

Under the direction of the Federal Emergency Management Agency, area by area, the government is changing what areas are considered to be flood zones. The changes have gone into effect in Michigan, and according to the Battle Creek Enquirer, some locals aren't welcoming them.

The reason is financially related. According to the paper, prior to the re-districting of what was and wasn't a flood zone, flood insurance was optional for Bellevue, Michigan, residents. But now that mortgage companies require homeowners to have flood protection due to the Map Modernization Initiative, it's hitting area residents in the wallet.

Speaking to the paper, Keith Haley, a resident of Bellevue, said he will have to pay an extra $800 per year in homeowners insurance premiums.

"We're already paying taxes that go toward FEMA," Haley said. "Shouldn't that be enough? Shouldn't those that live in more flood-prone areas be paying instead of us who see an occasional tornado?" Haley's home sits 135 feet from the nearest river.

The Map Modernization Initiative is part of FEMA's National Flood Insurance Program that 20,000 communities are currently participating in. People needing to update their homeowners insurance policy will likely be informed by their mortgage company directly.

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