An estimated 1 million policy holders in Louisiana are expected to begin receiving refunds if they overpaid for their flood insurance premiums.

What do you owe for this possible stroke of good luck? It's happening because of a congressional passing of legislation that modified a law in 2012.

It could be a pretty decent refund too, as checks are expected to average around $100!

From WDSU.com
"The National Flood Insurance Program has made many changes while advancing the substitute amendment to the Homeowner Flood Insurance Affordability Act of 2014.FEMA officials say these reforms slow some flood insurance rate increases and offers relief to some policyholders who had steep flood insurance premium increases in 2013 and early this year.It also means insurance companies will begin to issue refunds for applicable policyholders beginning Wednesday. There are several groups that should see refunds.Those who purchased or reinstated coverage after 2012 and lost subsidies. Non-residential building owners in flood zones who saw hikes of 25 percent on or after Oct. 1, 2013. There will be one-time refunds for anyone with a policy that saw hikes of more than 18 percent at renewal on or after Oct. 1, 2013."

To find out if you're eligible for a refund, click HERE to read the fact sheet.

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