Menendez to introduce bill to freeze flood insurance premiums
Corner of Adams ave. and Monmouth ave. in Margate. From: Joan Drammissi
Senator Robert Menendez is increasing awareness of his bill intended to help homeowners who are struggling with paying their flood insurance premiums.
Some Jersey Shore homeowners say they fear no longer being able to afford their homes as drastic flood insurance premium increases required by current law kick in.
At a public hearing today in Brick Township, Menendez touted a bill that would freeze current flood insurance rates for up to two years while the federal government studies the affordability of flood insurance. Menendez says soaring flood insurance rates, a product of recent reforms designed to help the program become self-sustaining, are happening all over the country.
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