The City of Austin Earns Lower Flood Insurance Premiums
Release Date: November 13, 2006
Release Number: R6-06-028
DENTON, Texas -- Residents and business owners in the city of Austin can now enjoy reduced flood insurance premiums as a result of Austin 's active participation in the National Flood Insurance Program's Community Rating System. In addition to lower premiums, residents enjoy reduced exposure to flood damage.
"The flood insurance program rewards communities for implementing programs and policies that protect their residents from flooding," said William Peterson, Federal Emergency Management Agency (FEMA) regional director. " Austin's higher regulatory standards, public education outreach, buy out programs and open space preservation initiatives, among other activities, have earned the city lower premiums as a class seven community."
Communities can earn points for implementing additional flood protection strategies that result in insurance premium reductions from five to 45 percent. Austin policyholders in Special Flood Hazard Areas will receive a 15 percent reduction on flood insurance premiums and policyholders outside Special Flood Hazard Areas will enjoy a five percent discount.
FEMA recognized Austin's achievements in the Community Rating System at the Annual Texas Floodplain Managers Association meeting held last week in Kerrville.
FEMA manages federal response and recovery efforts following any national incident, initiates mitigation activities and manages the National Flood Insurance Program. FEMA works closely with state and local emergency managers, law enforcement personnel, firefighters and other first responders. FEMA became part of the U.S. Department of Homeland Security on March 1, 2003.
Last Modified: Tuesday, 14-Nov-2006 08:29:48