ENGLEWOOD, FL - Tens of thousands of home owners on the Suncoast are seeing huge increases for flood insurance. Upwards of a 1000%.
Concerns are growing that it could force some out of their homes. Some politicians are now banning together to at least delay the increases while something is figured out.
Thursday morning we sat in Laure Lewis' home in Englewood. She said when she got the notice she cried. Her flood insurance going from around $100 a month to $600. Since then finding no help from anyone. She now has two options. Sell her home if she even can or use all of her life savings to afford flood insurance for the next couple years. "I am hoping that Washington will sit down and really honestly know that people can not pay this."
We talked to Congressman Vern Buchanan today. He says the big increases are because after hurricane Katrina and then super storm Sandy FEMA is now $25-billion in the hole. He agrees that something needs to be done. "I am a cosponsor of legislation that will slow this process down for at least the next four years."
We will have much more on this story coming up on ABC 7 this evening.
There will be a forum this Friday to discuss the issue.
FLOOD INSURANCE ROUNDTABLE
What: U.S. Rep. Vern Buchanan, R-Longboat, has scheduled a roundtable discussion on rising flood insurance rates.
When: 11 a.m. Friday.
Where: Dan McClure Auditorium at Sarasota-Bradenton International Airport, 5900 Airport Auditorium Lane, Sarasota.