Federal flood insurance has helped Long Islanders cover repairs, but new policies could end up costing homeowners more.

New property owners along the coast or in flood zones across the United States who renew their policies will be subject to a new system that sets the price. It is called Risk Rating 2.0.

The Federal Emergency Management Agency will now take into consideration your homes distance to water, the frequency of flooding and how much it could cost to rebuild.

It is estimated that around 80% of policy holders will see an increase in renewed policies, anywhere from $20 to $200 a year or possibly more.

Some people fear that it could be difficult for some homeowners to pay on fixed incomes.

"It's going to be tough," says Roy Lester, of the Long Beach City Council.

The federal government says about 20% of policy holders could see a decrease or no change in their flood insurance.

Some Long Islanders say the amount rates go up could determine their future living spaces.

"I might reconsider staying here," says Nicole Schnatz of Long Beach. "My husband is retiring in a year and a half possibly, so there is no reason to stay then."