JAMES ISLAND, S.C. (WCSC) – Homeowners on James Island are set to receive a discount on flood insurance rates starting this fall.
James Island Mayor Brook Lyon said residents will see a 5% decrease in their flood insurance policies beginning this October. That is in addition to an existing 20% discount because of the town’s initiative to enhance its floodplain management program, bringing the new discount to 25%.
Lyon said leaders have been working on implementing various preventative measures to help mitigate flooding.
The town just moved from Class 6 to a Class 5 rank in FEMA’s Community rating system, or CRS for short, which is why flood insurance policyholders will now save that additional 5%.
Lyon said the classification improvement is attributed to a few different factors: Ordinances recently passed by town council that strengthen building standards in low-lying areas that often flood; updated standards like eliminating slab on grade construction in a special hazard flood zone; and eliminating the fill and build construction practice.
She said another reason for the discount is because FEMA’s CRS also takes into account how much green space an area has, like the town’s new family park coming in the near future.
Lyon said they’re excited about this announcement and the money it will save residents.
“The town is in the top 15% of all the communities that participate in the CRS rating system. So, we’re very proud of that, and we’re really thrilled to be able to save our citizens a little bit more money because flood insurance is exorbitantly expensive,” Lyon said.
She said having stricter building requirements will enhance safety, decrease flooding, and protect residents’ property.
Lyon said the rate reduction should be reflected in your policy when it renews this fall.
To qualify for this discount, homeowners must be a part of FEMA’s National Flood Insurance Program.
Town leaders said because of recent land conservation efforts made possibly by the county’s Greenbelt program, residents could possibly see larger discounts in the future.
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James Island homeowners will see flood insurance discount starting in October
