Bosque Farms to pay more for flood insurance

ALBUQUERQUE (KRQE) – Residents in Bosque Farms are upset their flood insurance premiums keep going up – even though New Mexico is in a drought.

Increases came under a newly passed national law aimed to cover a $24 billion deficit after long-running discounts and a series of big storms.

This year, 275 homeowners in Bosque Farms will likely see rate hikes of up to 18 percent a year as the federal government tries to put the national flood insurance program back on sound financial footing.

Real estate agents say the rates just keep going up, making it difficult for some residents to pay the premiums or even sell their homes. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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