As many that live along the shores of Lake Barkley and Kentucky Lake there are many benefits.  The views and the lake access are just a couple.  But recently, there has surfaced a drawback that has the potential of becoming a monster.  Earlier this year, the flood plain maps for this area were redrawn.  With the revised flood plain lines came changes to insurance needs for some, if not all, waterfront homes along our lakes.  This resulted in Insurance companies contacting home owners to advise them that they would have to begin buying flood plain insurance.  This insurance is most often much more expensive than standard home owner insurance.  As if that is not bad enough, we have heard of finance companies contacting home owners and advising them that due to the new flood lines they now must purchase flood insurance to keep their existing mortgage in place.  Ugh!

And now the kicker.  Congress, our guys in Washington, are currently debating about cutting the federal subsidy to the flood insurance program.  If that happens, the complete cost of this insurance will fall to the home owners.  That in turn will effect the home owners living expenses, their ability to sell their homes and the property values of waterfront homes.  In fact, that has already begun.  Click Here to read an article about the waterfront in Louisville. 

The final determination has not been made yet but is an issue we all should keep up with.