Federal flood insurance premiums have soared for many Florida homeowners. And the impact like falling housing sales has got state lawmakers ready to wade into the controversy.
Pinellas County is seen as ground zero for the problems related to flood insurance. It can be seen in the real estate market where home sales decreased 8.4% in Pinellas in December – while it increased 8.6% statewide.
State representative Ed Hooper - a Clearwater Republican – supports a state solution to the federal flood insurance program.
"I’m actually sponsoring one of the bills that’s going to probably pass the house that addresses just that. My bill will be similar to Sen. Brandes", said Hooper.
Senator Jeff Brandes has filed a similar bill authorizing private insurers to sell Florida flood policies. Hooper believes the House and Senate can come together to resolve the differences in their bills.
"In Tallahassee this year the focus is so much on flood insurance that all other insurance discussions are sort of off to the side", Hooper said.
Hooper says his House Bill 879 is scheduled to have its first hearing in the House Insurance and Banking Sub-Committee the first week of March.