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Schumer, Rockaway Residents To Senate: Pass Flood Insurance Bill

on March 10, 2014

CBS New York

NEW YORK (CBSNewYork) — Christine Schneider says she wasn’t sure she wanted to rebuild her Rockaway, Queens, home following Superstorm Sandy — not because she feared another powerful storm, but “because we weren’t going to be able to afford our homes once the flood insurance came in.”

After Congress revamped the federal flood insurance program two years ago, premiums were set to increase dramatically.

“We were looking at premiums that range from $12,000 to $36,000 a year,” Dan Mundy of the Broad Channel Civic Association, told WCBS 880’s Alex Silverman.

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But that won’t happen as long as the U.S. Senate approves a bill the House has already passed. The Homeowner Flood Insurance Affordability Act, sponsored by Rep. Michael Grimm, R-Staten Island, would cap yearly premium increases at 18 percent.

“Coming right…

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