Lee County's flood insurance policyholders will be able to keep a 25% discount this year. | Pixabay
A 25% discount for policyholders with property in unincorporated Lee County will stay in effect on their standard federal flood insurance.
The discount for all policyholders in those portions of Lee County is valued at $14 million annually, the Fort Myers Florida Weekly reported. Savings for most residential policies will range from $200 to $300.
The National Flood Insurance Program (NFIP) visits unincorporated Lee County annually to audit its flood-mapping records and floodplain management activities. This year, Lee County received notice in April that revealed the county would be keeping the rating required to get the 25% discount.
By accomplishing such things as providing the community with information and documentation, maintaining base flood elevations FEMA established for new construction and enforcing FEMA’s Flood Insurance Rate Maps, Lee County kept a Class 5 rating. The ratings range from 10 to 1, with the lowest number having the highest rating and discounts increase by 5% increments, Florida Weekly reported.
Lee County has 65,809 NFIP in unincorporated sections of the county and properties outside the FEMA-designated flood plain will have an average annual savings of $72.
Standard-rated policies in the FEMA floodplain – the Special Flood Hazard Area – will have the full 25% discount available for the next three years, Florida Weekly reported. Property outside those areas, in what is known as the X zone, get another 10% discount, which is already part office ptheir current flood insurance premiums.
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