Austinites qualify for discounts on flood insurance

A better score on floodplain standards from the Federal Emergency Management Agency means Austinites could save money on flood insurance. FEMA has upgraded Austin’s score in the Community Rating System from a 6 to a 5, meaning that a 25 percent discount will be available for most flood insurance policies in Austin issued or renewed on or after Oct. 1. Previously, the highest discount available to Austin residents was 20 percent. The rating system is meant to encourage communities to go above and beyond the minimum standards. Flooding is not covered by homeowners or renters insurance. Because Austin is in the middle of Flash Flood Alley, the city recommends purchasing it separately – and has made significant investments to reduce flood risk to protect lives and lessen property damage. According to FEMA, the new discounts result from those flood mitigation activities, such as floodplain mapping, preserving open space, stormwater management and higher regulatory standards. The average annual flood insurance premium in Austin costs $670. Federally backed flood insurance is available to all Austin residents.