Pinellas family faces triple whammy in flood insurance rate hike - WFLA News Channel 8

Pinellas family faces triple whammy in flood insurance rate hike

Posted: Updated:
ST. PETE BEACH, FL -

It's no fun being in the insurance business these days. Not when so many of your customers are seeing astronomical flood premium increases. Agent Laurie Laurenty knows one client quoted $29,000 a year for a modest, $250,000 policy.

Not insuring your stuff inside your house can save you cash. "But at least, if you have $100,000 in contents insurance, $250,000 on your building, getting rid of that $100,000 in contents insurance or at least reducing it, is gonna bring the premium down quite a bit," said Laurenty.

At the stroke of midnight, flood insurance premiums for more than 50,000 Pinellas homeowners began the upward climb.

David and Wendy Lockhart are getting hit. "I'm probably gonna be OK A lot of the folks I know are gonna be alright. I'm worried about the people that are gonna be forced out of their homes because they can't afford the new flood rates," said David Lockhart.

For the Lockharts, this flood insurance fiasco is triple whammy. They're trying to sell one home and buy another. And both of them are in the real estate business, and business along the beaches right now, is tanking.

Flood insurance on the house they are selling was $1,200 per year. It's now $8,500. On their new home, a recent quote came in at $9,500.

Knock off "contents" and raising the deductible, shaves it down to $6,000. "All we can do is help. Is just bring forth these examples and keep putting them in the hands of the right people and hope that they do something about it," said Wendy Lockhart.

  • 8 On Your SideMore>>

  • Home Depot probing 'Unusual Activity' after reports of data breach

    Home Depot probing 'Unusual Activity' after reports of data breach

    Tuesday, September 2 2014 1:55 PM EDT2014-09-02 17:55:41 GMT
    Home Depot may be the latest retailer to suffer a massive credit card breachHome Depot may be the latest retailer to suffer a massive credit card breach
    Home Depot may be the latest retailer to have suffered a massive credit card breach, the company confirmed on Tuesday, after Krebs on Security reported that a large cache of stolen data had appeared on black market sites.
    Home Depot may be the latest retailer to have suffered a massive credit card breach, the company confirmed on Tuesday, after Krebs on Security reported that a large cache of stolen data had appeared on black market sites.
  • Magic diet pill promoter found running new business in Tampa

    Magic diet pill promoter found running new business in Tampa

    Tuesday, September 2 2014 12:54 PM EDT2014-09-02 16:54:32 GMT
    File Photo: Nick CongletonFile Photo: Nick Congleton
    Nick Congleton is in hot water with the FTC for selling "magic diet pills," and under investigation by Florida's Attorney General for a defunct travel club that owes hundreds of consumers for vacations they never received.Now, he's keeping a low profile and running a new business out of an unmarkedwarehouse in the Channelside District, where he didn't have much to say to Eight On Your Side this morning.
    Nick Congleton is in hot water with the FTC for selling "magic diet pills," and under investigation by Florida's Attorney General for a defunct travel club that owes hundreds of consumers for vacations they never received.Now, he's keeping a low profile and running a new business out of an unmarkedwarehouse in the Channelside District, where he didn't have much to say to Eight On Your Side this morning.
  • Community reaches out to Spring Hill family after theft of lawn equipment

    Community reaches out to Spring Hill family after theft of lawn equipment

    Tuesday, September 2 2014 8:45 AM EDT2014-09-02 12:45:21 GMT
    Michael Depace wants to say "thank you" and give a huge hug to everyone that reached out after a thief stole $3,500 worth of lawn equipment from him.
    Michael Depace wants to say "thank you" and give a huge hug to everyone that reached out after a thief stole $3,500 worth of lawn equipment from him.
  • NewsMore>>

  • Legoland unveils new character corner

    Legoland unveils new character corner

    Tuesday, September 2 2014 2:27 PM EDT2014-09-02 18:27:56 GMT
    Photo: Legoland Florida ResortPhoto: Legoland Florida Resort
    On Tuesday, Legoland has announced a new way for guests to meet and mingle with their favorite Lego characters, titled Buddy's Character Corner!
    On Tuesday, Legoland has announced a new way for guests to meet and mingle with their favorite Lego characters, titled Buddy's Character Corner!
  • Dead fish creating problems on Honeymoon Island

    Dead fish creating problems on Honeymoon Island

    Tuesday, September 2 2014 2:24 PM EDT2014-09-02 18:24:04 GMT
    Red Tide spotted on the shore of Honeymoon Island.Red Tide spotted on the shore of Honeymoon Island.
    Scattered on the shore of Honeymoon Island in Pinellas county are hundreds of dead fish.Park rangers started noticing the fish wash on shore on Friday, just before one of the busiest holiday weekends of the year."In some spots it scattered and as you move up north on the beach it's up in the hundreds of fish," said park manager Pete Krulder.
    Scattered on the shore of Honeymoon Island in Pinellas county are hundreds of dead fish.Park rangers started noticing the fish wash on shore on Friday, just before one of the busiest holiday weekends of the year."In some spots it scattered and as you move up north on the beach it's up in the hundreds of fish," said park manager Pete Krulder.
  • Largo teacher arrested for DUI in Labor Day crash

    Largo teacher arrested for DUI in Labor Day crash

    Tuesday, September 2 2014 1:42 PM EDT2014-09-02 17:42:58 GMT
    A Largo middle school teacher was charged with DUI on Monday after being involved in a five-car crash.
    A Largo middle school teacher was charged with DUI on Monday after being involved in a five-car crash.
  • Sign up for WFLA News Channel 8 Email Alerts

    * denotes required fields






    Thank you for signing up! You will receive a confirmation email shortly.
  • Most Popular StoriesMost Popular StoriesMore>>

  • Bubba 'The Love Sponge' to announce new Tampa gig

    Bubba 'The Love Sponge' to announce new Tampa gig

    Monday, September 1 2014 3:09 PM EDT2014-09-01 19:09:07 GMT
    File photo of Bubba the Love Sponge ClemFile photo of Bubba the Love Sponge Clem
    Bubba "The Love Sponge" announced on his Twitter page Monday that he will soon have a new Tampa home.
    Bubba "The Love Sponge" announced on his Twitter page Monday that he will soon have a new Tampa home.
  • Teen accused of killing, dismembering mother's body

    Teen accused of killing, dismembering mother's body

    Monday, September 1 2014 6:48 PM EDT2014-09-01 22:48:37 GMT
    Tyrese LandrumTyrese Landrum
    A Lee County teenager is behind bars, accused of killing his own mother and hiding her body parts around the home.
    A Lee County teenager is behind bars, accused of killing his own mother and hiding her body parts around the home.
  • Restaurant Ratings Most Violations: August 18 - 23

    Restaurant Ratings Most Violations: August 18 - 23

    Friday, August 29 2014 5:58 PM EDT2014-08-29 21:58:28 GMT
    Ever wonder what goes on in the kitchen of your favorite restaurants?
    Ever wonder what goes on in the kitchen of your favorite restaurants?
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.