Flood Insurance Premiums Fall

By: Ilyssa Trussel
By: Ilyssa Trussel

There is some good news if you live in flood prone areas of Tallahassee.

Flood insurance premiums are going down 20 percent. This comes after FEMA officials evaluated the city's floodplain program and gave it high ratings for regulating development and reducing damage in flood prone areas.

The city hopes the lower costs will encourage more residents to invest in flood insurance.

"Typically a flood insurance policy would cost in the range of $1,000 per year, so it’s approximately a $200 reduction," said David Henry, who works in the city's storm water management division.

The new discount just went into effect at the beginning of the month. For those who own property in a flood prone area, it automatically applies to the insurance policy. No signing up necessary.

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