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The Boston Globe


Flood insurance costs spike

HULL — Property owners in flood-prone areas across the state are seeing up to 25 percent increases in their flood insurance premiums this year — and can expect similar hikes for the next four years — as a result of legislation geared toward making the federal program more financially stable.

“We are getting killed on this,” said Lois Stezelecki, owner of Hull Nantasket Insurance. “The average increase is almost $400, which is staggering. Everyone is complaining about it.

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