Norfolk may not be able to stop rising sea levels, but some city residents may see their flood insurance cost burden alleviated.
With a new Class 8 rating from the voluntary Community Rating System under the Federal Emergency Management Agency, Norfolk can now offer a 10 percent discount on flood insurance to all property owners inside a FEMA-mapped flood zone.
Businesses and residents eligible for this policy can expect an average of $107 on each annual premium. The new rating will save Norfolk citizens over $791,754, the city said in a news release.
The National Flood Insurance Program is one of many initiatives the city's government has taken to increase resiliency against flooding. Others include public education, drainage system maintenance, open space preservation, and a freeboard ordinance which ensures a building’s lowest floor is 3 feet above the minimum base flood elevation.
