Questions still on whether state can cut flood insurance costs

TALLAHASSEE — Sen. Jeff Brandes says he wants to put consumers in control, but there’s still no guarantee a bill he introduced would bring down the cost of flood insurance.

It may be homeowners’ best hope, though, in a world where some are being told their flood insurance bill could rise from $4,000 to $40,000 a year.

The St. Petersburg Republican’s measure (SB 542) was approved unanimously by its latest review panel on Thursday, despite concerns raised by Democrats and Republicans during more than an hour of discussion by the General Government Appropriations subcommittee.

 The bill’s intent is to allow more private insurers to write home flood insurance policies in Florida. State lawmakers are acting after Congress failed to bring down flood insurance premium increases in the National Flood Insurance Program.

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