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Major flood insurance premium increases coming for those in floodplains

Getting insurance against flooding may soon become much more expensive for the owners of homes like these on Ingersoll Avenue in the Stockade neighborhood of Schenectady that were heavily flooded by Tropical Storm Irene in 2011.
Photographer: Stacey Lauren-Kennedy
Getting insurance against flooding may soon become much more expensive for the owners of homes like these on Ingersoll Avenue in the Stockade neighborhood of Schenectady that were heavily flooded by Tropical Storm Irene in 2011.
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Owning property near a floodplain in a flood-prone area is about to get a lot more expensive. In one of the most drastic examples in the Capital Region, than 200 property owners in the village and town of Waterford are facing annual flood insurance premium hikes of 18 percent starting this year. Additionally, two dozen businesses or second homeowners are facing an increase of 25 percent as the National Flood Insurance Program switches to a ...

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