Flood insurance hikes catch some by surprise, but most can avoid largest surcharge

Homeowners who ignored a letter from their flood insurance company explaining rate increases that took effect April 1 are in for a $250 surprise when they get their renewal notices.

The good news? People living in their primary residence can reduce the $250 premium surcharge to a $25 surcharge, even if their policy renewal has already taken effect.

Visit for the full story.