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The City of Davenport awarded massive savings on flood insurance premiums

The award comes after the city implemented new strategies to prevent future flooding.

DAVENPORT, Iowa — "Most of us can't even afford flood insurance."

In business for 20 years, Mary's on 2nd has faced serious hardship. Owner Bobby Stansberry says he pays $10,000 a year in insurance.

Historic flooding in 2019 financially crippled the bar. "This is the third lowest spot in the city," says Stansberry. He says he feared closing the doors forever.

"People have been very generous, that's how I've stayed, that's how I've stayed open."

The pandemic slapped him with another financial blow. Bills still coming in, plus building and liquor liability insurance - he says he can't afford to pay for flood insurance, "That's where we need our breaks, is in the insurance."

The City of Davenport is being awarded discounts on flood insurance premiums - as part the National Flood Insurance Program.

Laura Berkley from Davenport Public Works says the discount could save people $300 annually, "We were just awarded a class seven, which translates to a 15% discount on the flood insurance premium."

Ms. Berkley says the program is designed to incite cities to do more to prevent flooding, "So we get a 15% discount now for all citizens, so we're pretty excited about that," she says.

As for Bobby, he says he'll consider getting flood insurance, if and only, the savings outweigh long-term costs.

The rates and flood maps are set by FEMA. The discounts only apply to federally backed flood insurance.

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