A Federal Emergency Management Agency (FEMA) program may enable property owners in unincorporated Lake County to save an average of $241 on their flood insurance policies. Eligible residents may save up to 20% on their premiums.
According to a Lake County news release, unincorporated Lake County has more than 508 flood insurance policies in effect. FEMA's Community Rating System program enables property owners within unincorporated parts of the county who meet requirements to be eligible for the savings. The potential annual total savings across the county is $121,526.
The news release states that property owners should contact their flood insurance agent to obtain individual savings information. Lake County's participation in the program dates back to 2008. Favorable ratings have saved property owners thousands of dollars on their policies. Lake County must create an Annual Evaluation Report to maintain the favorable rating.
The report indicates that Lake County issued flood protection-related permits, including elevating structures and utilities and flow-through foundation additions during the project year. A cost-share grant program by the Lake County Stormwater Management Commission's (SMC) Watershed Management Board helps fund local stormwater projects. The program sets the highest funding priority as flood damage and prevention/mitigation. Other project benefits are included in funding decisions. The county works with residents and coordinates with agencies such as the Township Highway Commission and Lake County SMC to respond to drainage complaints affecting private properties.
Details of the Annual Evaluation Report can be found online at the provided link.
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