Residents save $12.3 million on flood insurance premiums - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Residents save $12.3 million on flood insurance premiums

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CHARLESTON, S.C. (WCIV) -- A high score for Charleston's Regional Hazard Mitigation Plan will save residents with flood insurance policies $12.3 million each year.

The National Flood Insurance Program Community Rating System (CRS) scores communities on an insurance rating schedule and gives residents discounts on flood insurance premiums based on the score.

Charleston County received the highest score for plans along the East Coast.

"Our hazard mitigation plan is unique in that 30 government entities within Charleston County have adopted it and have agreed to work together to make our community better able to withstand floods, hurricanes, earthquakes and other types of hazardous events that we can experience," said Carl Simmons, director of Charleston County's Building Inspection Services. "The plan also keeps all local governments within the county eligible for multiple pre- and post-event financial assistance programs."

About 69,500 flood insurance policies throughout Charleston County are discounted.

The Charleston County Council adopted the 2013-2014 plan during a meeting on Thursday. This year, the plan was updated to include hazardous events such as earthquakes, floods, tornadoes, and hazardous material situations that happened between June 2012 and May 2013.

The committee responsible for updating the plan includes members from all local government entities in Charleston County.

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