County Hoping to Limit Impact of Rising Flood Insurance Rates

floodDENNIS – Barnstable County has hired a county-wide Community Rating System coordinator in an effort to reduce the amount residents pay for flood insurance.

The coordinator will service Cape towns so that they don’t have to pay for the costs individually.

The towns that opt-in to the FEMA incentive program can get discounts on flood insurance, depending on where they rate in a rating systems points system that looks at numerous factors.

Dennis Town Planner Dan Fortier said flood insurance rates are too high.

“The insurance rates are supposed to be based on true risk and so far we have not seen any real risk associated with the rates people are paying and that is quite troublesome,” said Fortier.

Homeowners will still feel a pinch, with a 10 to 15 percent assessment to maintain a reserve fund, an annual surcharge of $25 for a person’s primary home and a $250 surcharge for a second home.

The rating system discount is expected to provide a measure of relief, but insurance rates will still rise up to 25 percent, averaging 10 percent.
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