FEMA drops Tampa flood insurance rates

The premium costs for the more than 26,000 households in Tampa with flood insurance policies are now lower. Residents will see a decrease in their standard flood policy rates and that’s attributable to efforts by city officials, a release said. The Community Rating System, which is administered by the Federal Emergency Management Agency, awards points to a community for the activities it undertakes to address flooding and other hazards. Tampa has been awarded a Class 6 rating, which will reduce residents’ premiums by 20 percent off the standard policy rates.

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