Palm Coast Homeowners Eligible for Reduced Flood Insurance Premiums

City’s improved designation ranks Palm Coast 12th of 217 participating Florida communities. Savings to homeowners is potentially 20%.

Palm Coast, FL – February 16, 2010 – Flood insurance premium rates for City of Palm Coast property owners are now available at a greater discount, thanks to the City’s actions to implement responsible floodplain management practices.  The Federal Emergency Management Agency (FEMA) has increased the City’s flood insurance rating to a Class 6 on the National Flood Insurance Program’s Community Rating System (CRS). This good news translates into a potential discount of an additional 20% for the cost of qualifying Palm Coast flood insurance policies issued or renewed in Special Flood Hazard Areas on or after May 1, 2009. The City qualified for this discount based on its actions that meet three CRS goals: reduce flood losses, facilitate accurate insurance ratings and promote the awareness of flood insurance. A 2008 CRS evaluation determined that the City exceeded the minimum requirements in the Public Information, Mapping and Regulation, Flood Damage Reduction and Flood Preparedness categories.

 “This CR 6 rating gives residents and business owners a tremendous opportunity to save money on qualifying flood insurance,” says Nestor Abreu, Community Development Director for the City of Palm Coast. “We urge policy holders to contact their insurance agents to learn more about potential discounts available in their specific flood zones within the City.”

When talking to insurance agents, residents and business owners are also advised to update their flood insurance records to be certain that their policy fees are based on property locations within the Palm Coast city limits. The City’s Community ID Number is #120684.

Palm Coast’s Class 6 rating ranks the City as 12th of 217 participating Florida communities, positioning Palm Coast in the top 20%. For more information, please contact Constance Bentley, Land Development Supervisor for the City of Palm Coast at 386-986-2655.

Contact: Constance Bentley

Land Development Supervisor

City of Palm Coast

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