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Flood insurance hikes just days away

07:41 AM CDT on Wednesday, June 6, 2007

By Shern-Min Chow / 11 News

New flood maps have prompted a rush on new flood insurance policies.

In just days, a set of upscale homes in Bellaire will officially move into a 100-year flood plain without having budged an inch.

What did move?

The flood maps. Twenty-five percent of Harris County residences are now in special flood hazard areas

Folks have been checking furiously to see where they will soon stand.

“On some days we've seen 12 times as much activity as our average day,” said Heather Saucier of the Harris County Flood Control District.

That amounts to 230,000 Web page visits, but are homeowners putting their money where their mouse pad is?

Insurance rates for those homes go up June 18.

Until then you can lock in your old rate, regardless of your new flood plain status.

All State, says in May its Texas agents wrote three times the flood applications than they averaged in the four previous months.

Agent Edward Garcia sent out letters alerting customers to the impending change.

“It's fair to say your insurance rates could double or triple it could possibly do that for a lot customers,” he said.

The difference can easily be hundreds of dollars a year. And you would have to get an elevation certificate, which is another $200 some bucks. 

Some good news in all this, flood control projects and certain city ordinances regarding construction have helped to reduce Houston's flood risk. What that means is by Spring of next year Houstonians should see a 5 percent drop in their flood insurance premiums.

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