Bradenton Beach insurance discount to begin
Bradenton Beach property owners can expect to soon get a better discount on their flood insurance premiums, to help offset expected rate hikes.
“Basically we are mitigating the pain,” said building official Steve Gilbert.
The city’s ranking in the federal flood insurance program has improved, meaning property owners should see some reduction in their rates. The national program has a rating system in which points are awarded on steps communities take to reduce flood risks.
Last fall, Anna Maria’s ranking improved, leading property owners to expect to see 10 percent reductions in already discounted premiums.
Bradenton Beach, at the time, learned it could expect to see a rank change - to class six - in the spring. That notice arrived last week to city hall.
However, the insurance premium discount - about 5 percent less on already discounted premiums - comes as an across the board hike in flood insurance is expected.
Gilbert spent a day last week with a representative from the Federal Emergency Management Agency’s Atlanta office.
The agent, Bob Durrin, encouraged Bradenton Beach to continue working with Holmes Beach, Anna Maria and Longboat Key officials on flood-plain management.
“We all need to take a look at our building permits and ordinances and come together on processes,” Gilbert said.
Gilbert said officials from the Island cities have been working together on the issue, adding that he is reviewing the recent flood-plain management ordinance adopted in Holmes Beach for consideration in Bradenton Beach.
Earlier in April, Holmes Beach implemented a revised flood-plain management ordinance as that city continues to work toward bumping up its points to improve its ranking and earn deeper discounts for property owners.