Brick Council: Stop Flood Insurance Rate Hikes

The Brick Township council this week unanimously supported a resolution urging the federal government to put off flood insurance rate hikes.

Brick residents in flood zones face insurance rates of up to $31,000 per year if they do not raise their homes since the federal government's subsidization of the National Flood Insurance Program was eliminated by an act of congress last year.

Last week, U.S. Sen. Pat Toomey (R-Pa.) blocked a measure that would have delayed the rate hikes, during which time a study could be conducted on insurance affordability and grant funding to help people raise homes could be obtained, if necessary.

Toomey said at the time that his aim is to make the insurance program more financially sound, though the resolution opposes doing so "on the backs of citizens through punitive flood base elevations and flood insurance premiums."

"The new flood insurance rates and guidelines are going to have a profound effect on families across the nation," said Mayor Stephen C. Acropolis in a statement. "The best course of action is to delay the increase in flood insurance premiums until areas affected have a chance to rebuild stronger and then analyze the risk. Unfortunately, Senator Toomey has single-handedly stopped that from happening by not even allowing a vote."

Relief could be on the way, however.

Sen. Bob Menendez (D-N.J.), speaking in Belmar Tuesday, said when he arrives back in Washington he will introduce a bill that will limit flood insurance increases to just 5 percent, per year, instead of the 25 percent increments that are currently on the table.

Menendez has also said he favors completing the affordability study, the addition of which he spearheaded to a flood insurance reauthorization measure.