The cost of home insurance could be going up for some Detroiters.
WWJ’s Florence Walton explains that Detroit has lost its battle with FEMA over the designation of the cities’ East-side between Jefferson Ave., Conner and Alter Road as a Federally Designated Floodplain Zone.
Building Safety and Engineering department spokesman Raymond Scott says home and business owners will have to buy into the Federal Floodplain Insurance program.
“The range is between $200 anywhere to $700 that will roughly be calculated based on the value of the home itself and the contents to be insured,” said Scott.
Council President Pro-Tem Gary Brown and others reluctantly supported the ordinance as a one hundred-year floodplain.
The designation will also be costly for any new construction and renovations within that area.
The chance of massive flood in the area is one percent in a hundred years.
Source: WWJ Newsradio 95