Bull City Today – Nov 1, 2019 (ep. 719) Flood Insurance Discounts

Anyone who rents or owns a home in a special
flood hazard area in Durham may soon benefit from an increased discount on flood insurance. That’s because the City has improved its
National Flood Insurance Program Community Rating from a Class eight rating
to a Class seven rating. The rating system rewards cities with incentives
for exceeding minimum requirements for the flood insurance program. It also encourages floodplain management activities
that reduce the risk of flood losses. Because of the rating change, flood insurance discounts will increase from 10 percent to 15 percent. The City’s Stormwater and GIS Services Division
with the Public Works Department oversaw some of the activities that helped Durham improve
its rating including more robust and successful hazard mitigation and stormwater
maintenance to reduce flood risk. Properties located outside of special flood
hazard areas will continue to qualify for the city’s five-percent insurance discount. To find out if a property is within a special
flood hazard area, contact the Durham City-County Development Services Center 919-560-4137. To stay up-to-date on the latest Stormwater
news, follow the division on Facebook and Twitter.

Leave a Reply

Your email address will not be published. Required fields are marked *