Flood insurance rates going up, some more than double annually

Residents in no flood zones feeling effects too

MIDDLEBURG, Fla. – After the National Flood insurance Program, which writes all the nation's flood policies, lost millions of dollars after a series of major floods, and after a 20 percent premium increase following major reforms in Congress, people are starting to see the effects of flood insurance rate hikes.

One of those people is Middleburg resident Jim Jarman, who said he doesn't even live in a flood zone but saw his annual flood insurance bill double.

"I haven't been able to finish painting my house," Jarman said. "And they want me to spend $600 for flood insurance."

Jarmon is a disabled veteran who's been using Brightway Insurance since 2010. The first two years, he paid about $280. Last year, he saw his bill increase slightly, but this year, he said it skyrocketed.

"It was $356, which I thought was kind of high, but we could afford that, that's what we budgeted for," he said.   "Monday we just received this one today. And the low rate is $596 and the higher rate is $630. Almost a 100 percent increase," Jarman exclaimed.

Jarman doesn't live in a flood zone but said that he got the insurance after heavy rain in 2011. Now, faced with a bill nearly 100 percent higher than his last one, he said he and his wife have to make a decision.

"My wife and I, we talked about it, and said yeah, we just can't afford it this year," Jarman said. "I got to roll the dice this year, hoping that nothing is going to happen because we just can't afford it."

Last week, News4Jax spoke to a local insurance agent who said these rate hikes could just be the beginning of more increases. He also said the rate hike could force some homeowners to opt out of flood insurance altogether.