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A month before hurricane season, local homebuyers who had no choice but to purchase government-backed flood insurance were faced with a higher bill.
The average cost for a National Flood Insurance Program policy in the New Orleans area was higher in most New Orleans area parishes as of April 30, according to updated policy statistics. The exceptions were Plaquemines and St. James parishes.
The average premium in unincorporated Jefferson Parish has edged up slightly every month since April 2012, a 3.7 percent rate increase overall, while Orleans Parish saw its average cost rise for the seventh straight month.
Surrounding parishes and towns have experienced similar incremental rate increases over the past year
Climbing flood insurance premiums are expected as the NFIP adopts new flood maps this year and seeks to phase out so-called "subsidized" rates, mostly less than full risk premiums on homes built before the first flood zone maps were drafted.
Area business leaders have lobbied Congress to block higher flood insurance premiums, which they say could destroy the area's housing market and small...