Rising Flood Insurance
I share Rose Marie Curley’s complaint on her article “Flood Premiums Skyrocket.”
I’ve been a Far Rockaway resident for 13 years and bought a house seven years ago. I am already feeling the financial burden of paying increasing flood insurance each year. I’m considering moving back to Brooklyn because soon I will no longer be able to afford it. I’ve seen the Rockaways go through a major revitalization and I wonder how the new arrivals will be able to afford the high cost of insurance. There are some insurance companies that are charging $3,000 - $4,000 a year! Also, some companies are now requiring windstorm insurance. Why hasn’t this been an issue with elected officials?
I fear that there will be an exodus of homeowners leaving the Rockaways and it will go back to what it once was, a desolate community.