Homeowners advised to check on flood insurance after new law established

Updated:

Homeowners may want to check on their flood insurance.

A new law went into effect in October that phases out subsidies for older homes.

That will drive up premiums for hundreds of thousands of people.

Plus, the government is re-drawing its flood maps, putting millions of homeowners into flood zones for the first time.

The changes will help boost the federal program, which is $30 billion in debt.