By Jeff Harrington, Times Staff Writer
Thursday, December 9, 2010
Flood insurance premiums are heading down in two Tampa Bay area counties as a reward for improved efforts to protect floodplains and increase public safety.
Residents in high-risk flood areas of Pinellas County will receive a 15 percent discount on coverage (up from 10 percent) while Hernando County residents in flood zones will see a 20 percent discount (up from 15 percent).
The improved discounts, which apply to property owners with mandatory flood coverage, stem from a recent "Community Rating System" review by the Federal Emergency Management Agency, which oversees the national flood insurance program.
Every three to five years, FEMA makes site visits to verify communities are complying with national standards for managing flood plains and encouraging residents to take out flood insurance. Whether a community's rating goes up, down or unchanged will affect how much residents have ...