Photo: WBZ NewsRadio
QUINCY, Mass. (WBZ NewsRadio) — Hundreds of Quincy’s homeowners no longer need to pay for flood insurance.
The Federal Emergency Management Agency (FEMA) has been updating its flood maps in Quincy, Mass. It comes as good news for homeowners like Albert, who said paying for flood insurance was a surprise when he moved to the city.
“I went to sign the papers and they said, ‘You got to have flood insurance.’ I feel like it’s Christmas for them. I just keep giving them money and they keep using it,” said Albert.
Albert is one of roughly 300 homeowners who don’t have to buy health insurance anymore, as FEMA updated their maps and shaved off dozens of neighborhoods. That translates to roughly $1,000 in savings each year.
“That would be great for the homeowners. All the other expenses are going up,” said Eileen, another Quincy resident.
Properties in a flood-sensitive zone are required to purchase flood insurance. For Luis, his flood policy is written into his mortgage.
“For the amount of money we are paying, 5 percent, it actually is some savings,” said Luis.
The updated maps were not good news for everyone in the city, as roughly a dozen new homes were added to the redrawn maps.
WBZ NewsRadio’s Jim MacKay (@JimMacKayOnAir) reports.