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CITY, N.D. (NewsDakota.com) There will be sticker shock for holders under the National Flood Insurance Program following the Reform Act of 2012. Starting this year subsidized policy holders who suffer repetitive property loss will see a 25 percent increase in their annual premiums until they are full-risk premiums.

FEMA spokesman Norm Ashford says there are a couple of ways to reduce the cost within individual communities.

Ashford says the changes are designed to make the National Flood Insurance Program more financially stable and ensure flood insurance rates reflect the real risk of flooding.
In Valley City, the change will affect nearly 340 policy holders, nationally nearly 253,000 policy holders.

Another change in premium rates will be reflected after remapping is completed in 2014.  
To find out more about your risk contact your local floodplain administrator. For more information on flood insurance policies, visit www.floodsmart.gov or call 1-800-427-2419.