Working-3-hickey-river-trees.jpg
NPR News, Classical and Music of the Delta
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Flood Insurance Rates On The Rise

Donelon3.jpg
ldi.gov
/

Residents will have to pay more for flood insurance due to changes in the National Flood Insurance Program. 

Louisiana Insurance Commissioner Jim Donelon says rate hikes on primary residences have jumped.  The increase is capped at 18 percent each year.  " That's each year, if their risk for flooding suggests demonstrates an exposure that should justify a higher premium," Donelon said.

Premium increases for commercial, second, or rental properties are capped even higher at 25 percent.  The changes come following changes approved by Congress last year to the NFIP.

Rate increases go into effect April 1, when policies come up for renewal.