After Sandy, a New Threat, Soaring Flood Insurance

By Katie Zezima and Meghan Barr
|  Sunday, Jun 9, 2013  |  Updated 12:41 PM EDT
View Comments (
)
|
Email
|
Print
After Sandy, a New Threat, Soaring Flood Insurance

Michael Jaworski

Hollywood Blvd. near Van Buren Street

advertisement

Federal authorities have been issuing a sobering warning to thousands of homeowners still struggling to recover from Superstorm Sandy: Raise your homes above the flood plain or face soaring insurance costs.
 
For many residents in coastal New York and New Jersey, that's an impossible choice, because they can't afford to do either.
 
Raising even a small cottage up on stilts can cost $60,000. Elevating a big, multilevel home could cost $250,000.

But insuring homes that haven't been raised could cost just as much.
 
One Toms River New Jersey resident tells The Associated Press his insurance premiums might hit $30,000 per year if he doesn't jack up his house.
 
He and other homeowners are waiting to see whether coastal rebuilding rules will simply make it too expensive to stay.

Related Stories:

No Help to Rebuild Shore Home After Sandy

Storm Shatters Rainfall Record in Philly

Lost Lincoln Document Found at Pa. College

Black Bear Spotted on Princeton University Campus

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
FlyeredUp: Win 2 Tickets to Flyers Playoff Game
Win two tickets to the first... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out