Florida didn’t trigger the financial crisis within the National Flood Insurance Program.
In fact, over the past 35 years, the state’s property owners have helped prop up the program, paying four times more than what they have gotten back in claims.
The payback for all that financial help: About 270,000 Florida properties could face huge flood insurance rate hikes. That’s three times more than the next most-affected state, New Jersey.[advanced-iframe securitykey=”a89b984039fb3b09578b3059dd44d761a319ccc0″ src=”https://www.tampabay.com/news/business/banking/premiums-rising-for-national-flood-program-though-florida-pales-in-payouts/2126888″ width=”1000″]