Soaring flood insurance a new headache for Sandy-struck homeowners

Thousands of homeowners and businesses who were doubled over after Superstorm Sandy walloped the area last year are now facing a new burden: soaring flood insurance rates. Residents like Joseph Margolin,

News 12 Staff

Jul 9, 2013, 1:27 AM

Updated 3,975 days ago

Share:

Soaring flood insurance a new headache for Sandy-struck homeowners

Thousands of homeowners and businesses who were doubled over after Superstorm Sandy walloped the area last year are now facing a new burden: soaring flood insurance rates.

Residents like Joseph Margolin, of Valley Stream, are seeing their premiums hiked to jaw-dropping rates. Margolin says his neighborhood has never flooded, but FEMA classified it as a high-risk flood zone. His flood insurance rates went from $400 per year to $3,400, an increase of 700 percent.

A civic organization that was founded to fight FEMA on the issue contends that the new flood maps are highly inaccurate. "They didn't want to pay the Army Corps of Engineers, so they took Suffolk's map and laid it over Nassau and said, 'We're done,'" says Carol Krupi, who founded the civic group.

In response to the outcry, Sen. Charles Schumer (D-NY) says there's a push in Congress to delay some insurance increases for up to five years.

A public hearing on the new flood maps is set for July 15 at Valley Stream Village Hall.

For an extended interview with Sen. Charles Schumer, click on the video to the left or click on News 12 Extra on Channel 612.


More from News 12
0:40
Family lawyer: 6-day search at Heuermann home appeared to be focused in the basement

Family lawyer: 6-day search at Heuermann home appeared to be focused in the basement

2:27
STORM WATCH: Threat of severe storms on Long Island for Memorial Day

STORM WATCH: Threat of severe storms on Long Island for Memorial Day

0:25
Suffolk police: 12 drivers arrested at sobriety checkpoint in Patchogue

Suffolk police: 12 drivers arrested at sobriety checkpoint in Patchogue

Guide: 2024 Memorial Day Parades on Long Island

Guide: 2024 Memorial Day Parades on Long Island

0:38
Adelphi wins 8th NCAA DII men’s lacrosse championship, 1st in 23 years

Adelphi wins 8th NCAA DII men’s lacrosse championship, 1st in 23 years

Wennberg scores in OT, Rangers top Panthers 5-4 to take lead in East finals

Wennberg scores in OT, Rangers top Panthers 5-4 to take lead in East finals

2:23
Bethpage Air Show at Jones Beach ends early due to ‘poor weather conditions’

Bethpage Air Show at Jones Beach ends early due to ‘poor weather conditions’

0:42
139th-annual Memorial Day Parade marches through Hempstead Village

139th-annual Memorial Day Parade marches through Hempstead Village

0:30
Police: Good Samaritan rescues 3 people from boat fire in Great South Bay

Police: Good Samaritan rescues 3 people from boat fire in Great South Bay

0:27
Police: 2 motorcyclists hospitalized following collision with Amazon van in Roslyn

Police: 2 motorcyclists hospitalized following collision with Amazon van in Roslyn

1:50
Officials: Multiple crews respond to small explosion, fire at Valley Stream home

Officials: Multiple crews respond to small explosion, fire at Valley Stream home

0:36
Memorial Day parade makes its way through Island Park

Memorial Day parade makes its way through Island Park

2:08
Blood test that detects colon cancer close to receiving FDA approval

Blood test that detects colon cancer close to receiving FDA approval

1:52
170,000+ pour into Jones Beach for aerial spectacular feats of Bethpage Air Show

170,000+ pour into Jones Beach for aerial spectacular feats of Bethpage Air Show

0:24
Police: Manhattan man arrested, accused of taking photos up woman’s skirt in East Farmingdale store

Police: Manhattan man arrested, accused of taking photos up woman’s skirt in East Farmingdale store

0:45
Police: 2 suspects face charges for robbery, assault at Hicksville smoke shop

Police: 2 suspects face charges for robbery, assault at Hicksville smoke shop

1:52
Record crowds of over 106,000 watch practice show of Bethpage Air Show

Record crowds of over 106,000 watch practice show of Bethpage Air Show

1:59
 Multiple vehicle crash shuts down Roosevelt road for hours

Multiple vehicle crash shuts down Roosevelt road for hours

2:21
Long Island beaches open for the summer

Long Island beaches open for the summer

0:27
Man arrested in hit-and-run that seriously injured University of Albany student from Floral Park

Man arrested in hit-and-run that seriously injured University of Albany student from Floral Park