Officials say as many as 4,000 homeowners in Louisiana’s St. Charles Parish may be eligible for a dramatic reduction in flood insurance rates.
Starting Oct. 1, residents on the parish’s east bank may be eligible for something called a “preferred risk policy,” which is available only to homeowners who live in areas thought to be at minimal risk for flood damage.
Earl Matherne, administrator for the parish’s Planning and Zoning Department, tells The New Orleans Advocate those in St. Charles who qualify for such policies could see their rates drop to as low as $400 or $450 a year, down from as much as $2,500 a year.
Matherne says the parish continues to work on the flood maps with FEMA in hopes that more residents will get a break on their insurance costs.
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