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Big jump in flood insurance to hit some

New rates for a small percentage - about 3 percent here - could escalate exponentially.

By Kimberly Miller - Palm Beach Post Staff Writer

Flood insurance costs for tens of thousands of Florida homeowners are blowing up as subsidies expire under massive legislation passed by Congress last year with little debate or consideration of its cost to policyholders.

The increases — some began in January and others go into effect Oct. 1 — are considered so harmful that even the senator whose name is on the act is pleading for changes. She warns of rates that in some cases will be “more than a thousand times higher” than current costs.

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Palm Beach Post staff writer Charles Elmore contributed to this story.

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