Sunday, February 25, 2024

Drop in flood insurance costs for Palo Alto property owners

Palo Alto residents and businesses will see a reduction in their flood insurance bills this year.

The discount is attributed to a higher rating the city of Palo Alto has received from the Federal Emergency Management Administration because of its flood management efforts, according to City Manager James Keene.

Palo Alto now has a rating of “six” instead of “seven,” which increases the discount property owners receive on premiums to 20 per cent from 15 per cent. It is the first city in Santa Clara County to achieve the 20 per cent discount level, Keene said.

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