10:07 am on Thursday April 2, 2015
| Posted by MBSunNews
New fee on flood insurance renewals to start Wednesday
Beginning Wednesday, homeowners who must have flood insurance will find a new fee tacked onto policies the next time they renew, said Mil Servant, broker in charge at Surfside Realty.
Servant, who served on a flood insurance committee of the Coastal Carolinas Association of Realtors and a community rating system committee for the town of Surfside Beach, said that primary residence owners will have to pay a $50 fee at renewal while owners of second homes and commercial buildings face a $250 fee.
The money will go to the Federal Emergency Management Agency, Servant said, where he believes it will be used for new flood zone mapping.