Lexington County residents to see savings on flood insurance premiums

Lexington County residents who have flood insurance can expect to see savings on their premiums soon after the County of Lexington was reclassified by the Federal Emergency Management Agency due to efforts mitigating and planning for future potential flood incidents.

The County of Lexington achieved a Class 7 ranking under FEMA’s Community Rating System standards, which translates to a 15 percent savings for homeowners who have flood insurance policies in Special Flood Hazard Areas. This is the lowest ranking the County has received since entering the Community Rating System program in 1991.

This means that homeowners can expect to see an estimated average saving of $160 on flood insurance premiums on policies in Special Flood Hazard Areas, and an estimated $112,000 will be saved throughout the County.

The new classification is a result of the dedicated work by County Council, administration and staff to plan for the County’s potential flood risks. Throughout a year-long process, Stormwater and Floodplain Management staff conducted public education meetings, implement higher regulatory standards for new buildings and developed a floodplain management plan to better prepare the County for potential flooding.

“The reclassification proves that we are accomplishing our mission in providing services to people and doing so at a reasonable cost,” County Council Chairman Debbie Summers said. “With what we’ve been through in the 2015 flood, this accomplishment speaks volumes to the hard work our staff has done and for the active participation that our citizens engaged in.”

Homeowners who have flood insurance can expect to see lowered premiums for National Flood Insurance Program policies issued or renewed on or after May 1, 2018. To view the County’s Floodplain Management Plan, visit our website at lex-co.sc.gov and visit the Public Works – Floodplain Management page (https://bit.ly/2v4NSXe).