Flood bills will swell Homeowners in at-risk zones to see chunkier insurance premiums By Brian Nearing Published 10:10 pm, Friday, March 22, 2013
For thousands of New Yorkers who live or own businesses in areas prone to flooding, insurance protection will get more expensive every year. And if those people sell, that insurance bill for the new owner will skyrocket immediately.
Changes to federally backed flood insurance adopted last year will begin taking effect in 2014, and people who rely on that insurance will be paying more, said William Nechamen, flood insurance coordinator with the state Department of Environmental Conservation.
In the Capital Region, that impact likely will be felt most strongly in older communities in federally determined flood zones along rivers, such as Green Island or Schenectady's Stockade neighborhood, he said. Nechamen spoke Friday during Union College's fifth annual scientific conference on the Mohawk River, itself the scene of major flooding in 2011............................>>>>.........................>>>>.....................Read more: http://www.timesunion.com/business/article/Flood-bills-will-swell-4378090.php#ixzz2OMYtKvlJ
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