“In this economy, any news that saves our residents money is welcome,” said Mayor Lois J. Frankel. “I commend City staff for their work to mitigate the effects of flooding and save our families money.”
The City participates in the National Flood Insurance Program (NFIP), which offers relatively low-cost flood insurance to the City’s residents and businesses. The City also voluntarily participates in a rating system which provides the City the opportunity to earn discounts on flood insurance premiums.
As a result of projects to reduce the severity, frequency and negative impacts of flooding, NFIP policy holders in the City are eligible for up to a 20% discount on their premiums.
The City was awarded the discount because of improvements to the drainage system in areas that have been prone to flooding, upgrades in the planned emergency response to flooding, and overall improvements to the City’s Flood Management Plan.
Residents with questions about their flood insurance or their eligibility for the deduction should contact their insurance agent.