NEWPORT BEACH : Residents Get Break on Flood Insurance
Newport Beach officials have a pleasant surprise for residents.
Because the city has taken steps to protect against floods, homeowners who live in the low-lying areas of Balboa Island, the Balboa Peninsula and West Newport near the mouth of the Santa Ana River will see a 5% reduction in their flood insurance rates this fall.
That means property owners who pay between $300 and $400 annually for flood insurance through a program administered by the Federal Emergency Management Administration will save about $20.
“The rate decrease may or not be important to homeowners, but the safety factor is most important,” said Faysal Jurdi, an engineer in the city’s Building Department.
In order to warrant the rate discount through a federal flood insurance program, the city had to perform a number of tasks that would make homes less vulnerable to floodwater. In recent months, Jurdi said, the city has built storm drains, upgraded bulkheads on the perimeter of Newport Harbor and made flood insurance information available at the public library, among other things.
The lower rate will go into effect beginning in October.
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