Larger flood insurance discount coming for James Island homeowners

JAMES ISLAND, S.C. (WCBD) — Homeowners in the Town of James Island are slated to receive larger discounts on their flood insurance rates starting this fall.

Officials said Thursday that the town’s designation in FEMA’s Community Rating System — a voluntary incentive program — was bumped up to Class 5 as a result of ongoing efforts to reduce the risk of flooding.

That means policyholders within the town are set to get an additional 5% in savings on flood insurance policies, bringing the total discount to 25% starting in October.

According to FEMA data, the median cost of insurance for a single-family home through the National Flood Insurance Program was $797 in August 2023.

The town has implemented a range of preventative measures in recent years to help mitigate flooding, including adopting stronger building standards to ensure buildings in low-lying areas can withstand worsening storm surges.

“By strengthening our flooding program and adopting stricter development requirements, we’ve been able to help our residents cut their flood insurance bills by 25%,” Mayor Brook Lyon said. “And that’s a real win for both safety and savings.”

Officials said they are hopeful recent land conservation efforts made possible by the county’s Greenbelt program will help secure large discounts in the future.