California Considers Ditching Federal Flood Insurance For State-Run Program

SACRAMENTO (CBS13) — California is overpaying for flood insurance, according to a report from a UC Davis research group. And now the Department of Water Resources is considering a state-run flood insurance program that could save billions of dollars.
“I was afraid to add it up. It’s a lot,” said Sharon Rojo, a Northgate resident for the last 45 years.
She and her husband have paid flood insurance since Day 1.
“You don’t have an option,” said Roger.
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