St. Tammany Parish residents to see reduced flood insurance costs ...

Many St. Tammany Parish residents will save money in the coming year due to decreases in flood insurance costs, the parish announced today.

The collective savings of $1.9 milion comes by way of the parish being able to reduce its Community Rating System rating from Class 9 to Class 7, the parish said in a news release.

St. Tammany Parish now joins six other communities statewide with a Class 7 rating. Jefferson Parish is the only community in the state with a Class 6 rating, the parish's news release said.

"I am very proud of the team that made this savings possible,'' St. Tammany Parish President Kevin Davis said. "This was an effort that crossed parish departments and agencies in order to improve flood prevention as well as put dollars in the pockets of our citizens.''

As of March 31, the parish had 35,720 flood insurance policies in place, paying a collective premium of $19,662,195, the news release said.

Davis said the parish is now pushing to reduce the rating to a Class 6, which would bring even more savings to policy holders.

Source: http://www.nola.com/politics/index.ssf/2011/06/st_tammany_parish_residents_to.html

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