San Antonio property owners soon can save money on flood insurance

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San Antonio property owners soon can save money on flood insurance
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San Antonio’s need for drainage can seem staggering, with billions worth of projects...

about $700 per year, according to the Texas Department of Insurance. But homeowners who live outside a high-risk flood zone can usually purchase a federal flood policy for less than $500 a year.

San Antonio will join class six of the program. Property owners in class one receive the highest discounts, up to 45 percent off for residents who live in a floodplain.by mortgage lenders, per the National Flood Insurance Act. Homeowners can see if their home or neighborhood sits in the floodplain by checking the San Antonio River Authority’sThe goals of the program include reducing flood damage to insurable property and fostering comprehensive floodplain management.

More than 70 other communities in Texas participate in or will join the federal incentive program this fall. Residents of nearby Leon Valley, Live Oak, New Braunfels, San Marcos, Austin and Guadalupe County can also take advantage of the discounts.are needed. The new voter-approved 2022 bond program is one way the city is making a dent in that need.

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