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Florida's flood insurance about to make huge hike
Floridians with flood insurance are about to see a major price hike if they haven't already.
Rates are jumping by a minimum of twenty percent a year.
The increase is due to legislation taking effect October 1st, parts of which kicked in January 1st.
Florida realtors' told the governor and cabinet today that the increases could cripple a recovering housing market.
"This reform measure will in affect lock current homeowners into their property. They will not be able to sell because no one will be able to afford to buy after they learn what the flood insurance premiums will be in Florida."
Governor Rick Scott has already called on congress to delay the hikes.