Homeowners advised to check on flood insurance after new law established

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.

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

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