Reform legislation in recent years was intended to impose market rates and discipline to the national flood insurance program and bring an end to taxpayer subsidies. But now people are shocked about the costs of insuring property in floodplains. The National Association of Realtors® is calling for a four-year timeout on the implementation of rate increases.
Indeed, some of the rate increases that I've seen around Flagstaff, including on my own property, have been severe. Flooding in mountain areas is a significant concern, made more dramatic by the threat of forest fires, which can devastate protective cover and open floodways that haven't run for decades.
By the way, I recommend everyone who owns property in Flagstaff look up toward the mountain and imagine a flow coming toward your house. Then bite the bullet and buy flood insurance.