KUSA - If you own a home in an area at high risk for flooding - expect a rate hike of at least 25 percent for flood insurance.
Changes to the National Flood Insurance Program, effective Oct. 1, mean properties that have been severely or repeatedly flooded will begin to increase by 25 percent a year - until rates reach a point where there's enough money to adequately pay out claims.
That adds up to thousands of dollars over the next decade.
Carole Walker with the Rocky Mountain Insurance Information Association says the federal program has been underfunded for years.
"There is a concern that these rising premiums will price some people out of it [the housing market] and affect their ability to get their mortgage [or] affect their ability to sell their homes," Walker said.
She says it's an issue congress has been grappling with since the 1960s, when the program started.
Click here for information about how the changes could affect your policy.
(KUSA-TV © 2013 Multimedia Holdings Corporation with The Associated Press)