Three Forks turns to privatized flood insurance

THREE FORKS — More than 1,800 Montana residents and businesses now receiving discounted flood insurance through a federal program are facing premium hikes despite a congressional rate-relief bill that softened the worst of the increases.

The changes affect subsidized policyholders in flood zones who built before their communities joined the National Flood Insurance Program.

No one is sure how high rates will go. But towns such as Three Forks worry it could damage the real estate market and hinder development.

Three Valleys Insurance owner Doug Hamilton and his office manager, Jeri Widmer, think they have come up with a way around the problem.

They located a private insurance carrier and are offering one of the first alternatives to the federal program in the state.

They say up to 30 policyholders have switched or are doing so.