Property owners and real-estate agents in Coastal Georgia are bracing for rising insurance rates due to federal legislation that has changed the way the National Flood Insurance Program operates. The new law is phasing out some subsidized rates, such as for vacation homes, and will raise insurance premiums for those properties at most risk of severe or repeated flooding.These changes are the result of the Biggert Waters Flood Insurance Reform Act of 2012. Buying property, allowing a policy to lapse or buying a new policy can trigger rate hikes.“Obviously, higher insurance rates make it more difficult for homeowners within these areas to be able to live there if they have insurance,” Liberty County Administrator Joey Brown said.