WASHINGTON (AP) — In the past year, the southwestern Louisiana city of Lake Charles weathered two hurricanes, intense rainfall that sent water gushing down streets and a deep freeze that burst pipes.
Yet Tommy Eastman may eventually drop coverage on his four-bedroom home — which has so far escaped damage — because the cost of his flood insurance is going up.
“Once it starts getting over $1,000, I’m gonna start thinking, ‘Well, what am I doing?’” said Eastman, a real estate agent whose annual policy is scheduled to climb from $600 to $2,500 over the next several years.