CNN US | Homeowners brace for more expensive flood insurance as FEMA launches changes to program

(CNN) – Homeowners in flood-prone areas are bracing for rising insurance rates as the Federal Emergency Management Agency launches a revamp of its flood insurance program.

The changes to the National Flood Insurance Program mean than three-fourths of existing policyholders will see higher flood insurance bills, as climate change increases the threat of flooding from storm surge, extreme rainfall and river flooding across the country.

One homeowner on the New Jersey shore told CNN she thinks the new changes could be disastrous for homeowners.

“It’s literally one step forward and five steps back,” said Amanda Devecka-Rinear, executive director of grassroots group New Jersey Organizing Project, a coalition of homeowners impacted by Superstorm Sandy in 2012.  —read more—