Sen. Charles Schumer calls on the U.S. Senate to pass the Homeowner Flood Insurance Affordability Act at a news conference on March 10, 2014 in Belle Harbor, Queens. (credit: Alex Silverman/WCBS 880)Sen. Charles Schumer calls on the U.S. Senate to pass the Homeowner Flood Insurance Affordability Act at a news conference on March 10, 2014 in Belle Harbor, Queens. (credit: Alex Silverman/WCBS 880)
NEW YORK (CBSNewYork) — Christine Schneider says she wasn’t sure she wanted to rebuild her Rockaway, Queens, home following Superstorm Sandy — not because she feared another powerful storm, but “because we weren’t going to be able to afford our homes once the flood insurance came in.”
After Congress revamped the federal flood insurance program two years ago, premiums were set to increase dramatically.
“We were looking at premiums that range from $12,000 to $36,000 a year,” Dan Mundy of the Broad Channel Civic Association, told WCBS 880’s Alex Silverman.
