Waters rise, and so does the cost of coastal insurance

Many American homeowners in flood-prone areas are facing more expensive insurance premiums.

Filer: “Particularly post-Katrina and post-Sandy, now, insurers are going back in and reevaluating the risk and that’s why we’re starting to see the increases in insurance.”

That’s Larry Filer with the Commonwealth Center for Recurrent Flooding Resiliency at Old Dominion University.

He says the payouts required after huge storms have strained the National Flood Insurance Program, so premiums are going up, especially for homes in flood zones.

Read/listen to the Yale Climate Connections story - “Waters rise, and so does the cost of coastal insurance.”