Proposed bill would delay flood insurance increases

Law originally passed in 2012 aimed at making flood insurance program more stable

SOUTH HADLEY, Mass. (WWLP) – Capitol Hill lawmakers are working to delay a flood insurance increase.

The proposed legislation could pass as early as Wednesday and it would delay a slated increased in flood insurance.

In 2012, a law was passed aimed at making the federal flood insurance program financially stable. As a result, flood insurance premiums are slated to increase next year.

Dan McKeon has lived alongside the Connecticut River in South Hadley for 13 years.  He says they haven’t reached the 100-year flood mark in the time he’s been there. He told 22News flood insurance for his home would cost an estimated $1,300 a year.

“Topping the premiums, I don’t think it’s a good idea. Putting a timeline on it may be a good idea,” said McKeon. “You know, if the flood is coming tomorrow and I go out and get some insurance, maybe a delay makes more sense.”

If it’s passed, the bill would delay up to four years of premium increases.