Downers Grove's stormwater improvements earn flood insurance discount for residents
DOWNERS GROVE – Downers Grove's efforts to improve its stormwater infrastructure will result in a 20 percent discount on property owner's flood insurance premiums beginning May 1, 2014, according to the village.
A 20 percent discount will be a 5 percent increase in discounts over the current rates as part of the National Flood Insurance Program (NFIP).
FEMA told the village on Aug. 16 that it was recommending Downers Grove's rating under the NFIP Community Rating System be improved, resulting in greater insurance premium discounts for property owners in the floodplain.
There were more than a dozen stormwater policies and activities in place by the village that were recognized by the rating agency, according to the village.
Some of the practices include the village's flood protection standards, local flood studies and open space preservation.
Although the discounts apply to floodplain properties only, all properties in Downers Grove can purchase flood insurance because the village participates in the NFIP.
To find out more about flood insurance, visit: floodsmart.gov