Flood insurance changes to be outlined at meeting | savannahnow.com

Coastal Georgians are prepared for hurricanes this time of year.

A different kind of storm hits next week, though, and the surge promises to catch many unaware.

The Federal Emergency Management Agency, or FEMA, begins phasing out subsidized flood insurance rates for principal residences on Tuesday. Thousands of Chatham County homeowners will see their annual premiums climb by as little as 6 percent and as much as 25 percent.

The changes will have an even more significant impact on those selling homes with subsidized policies as those discounts will be eliminated. The new owner would pay premiums at the unsubsidized, full-risk rate.

The issue prompted Tybee Island officials to schedule an information session for 6:30 p.m. tonight at Tybee City Hall. FEMA and Georgia Department of Natural Resources personnel will give a presentation on the changes, which are part of the Biggert-Waters Flood Insurance Reform Act passed by Congress last year.

Congressman Jack Kingston facilitated the meeting, and Tybee Mayor Jason Buelterman will moderate the discussion.

“It is very important that we all gain a greater understanding of the impacts of this new law on Tybee property owners,” Buelterman said.

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