City Continues to Save Residents Money on Flood Insurance

(Thursday, October 8, 2009)  For the third consecutive year, City of West Palm Beach residents and businesses will be able to save up to 20% on their flood insurance costs thanks to efforts by the City to reduce the negative impacts of flooding.

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 flood-risk areas of the City are eligible for up to a 20% discount on their premiums.  The City made significant improvements to the stormwater management system in 2009, all of which will help manage water runoff during and after intense rains.

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.  You can also view the complete Annual Update on the Floodplain Management Plan Implementation at http://www.wpb.org/flood/flood_insurance.php.