No Joke. Flood Insurance Rates Increase On April 1

April 1, 2015 9:01 AM

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Today, about a million Americans will see their flood insurance payments double. There is a reason for this rate hike. It is supposed to help pay off the flood program's $24 billion debt to the U.S. Treasury. Charles Lane reports from our member station WSHU.

CHARLES LANE, BYLINE: After Sandy and Katrina, Congress hiked rates, but some of the homeowners paying the new rates are actually nowhere near the ocean.

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