Flood insurance rates to fall 5 percent for some Louisianans
Louisiana flood insurance rates could be on their way down for many residents.
According to The Advocate, a local newspaper, the city of Denham Springs has improved its flood rating, which means residents who have flood insurance will see their premiums fall approximately 5 percent. Rick Foster, a Denham Springs city official, said the reduced rate will wind up saving residents with flood coverage a collective total of $148,441 annually.
Foster told the newspaper that the city was able to improve its flood rating by taking several actions, such as enforcing storm-water regulations, adopting new building codes, raising buildings to protect them from flood damage and improving the city's drainage system.
Jimmy Durbin, the mayor of Denham Springs, told the source that the city's rating is better than many others that participate in the Federal Emergency Management Agency's National Flood Insurance Program.
The NFIP, which subsidizes flood coverage to supplement homeowners insurance and protects more than 5.6 million homeowners and businesses throughout the country, was set to expire on September 30. However, Congress recently voted to give it a short-term extension, lengthening the program by seven weeks.
For more about flood insurance you can visit: Flood Smart
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