WEST PALM BEACH, FLA. (September 19, 2018) –
West Palm Beach residents may begin to see a difference in their flood insurance premium costs! Effective October 1, 2018, the City of West Palm Beach will increase to a Class 5 in the National Flood Insurance Program (NFIP) Community Rating System (CRS). The NFIP, with premium rates determined by the risks of flooding, is administered by the Federal Emergency Management Agency. The CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the NFIP requirements.
The floodplain management activities implemented by the City qualifies it for a 25 percent discount in the premium cost of flood insurance for NFIP policies issued or renewed in Special Flood Hazard Areas on or after October 1, 2018. Any building located in an A or V flood zone is considered to be in the Special Flood Hazard Area. Preferred Risk Policies, applicable in Zones B, C, and X on our community’s NFIP Flood Insurance Rate Map are not eligible for the CRS discount. Standard rated flood insurance policies in Zones B, C, X, D, AR, and A99 are eligible for a CRS discount of 10 percent.
YOU CAN FIND OUT IN WHICH FLOOD ZONE YOUR HOME OR BUILDING IS LOCATED BY VISITING THE FEMA FLOOD MAP SERVICE CENTER, HERE: https://msc.fema.gov/portal/search
In a letter, Department of Homeland Security, Federal Emergency Management Agency’s CRS Coordinator William H. Lesser wrote to West Palm Beach Mayor Jeri Muoio, “I commend you on your determination to lead your community to be more disaster resistant. This commitment enhances public safety, property protection, and protects the natural functions of floodplains, and reduces flood insurance premiums.”
To reach a Class 5 rating, the City of West Palm Beach updated its floodplain management plans, enhanced the maintenance of storm water systems, and developed projects to prevent flooding. The City developed a public information program to disseminate flood information citywide and a repetitive loss area analysis, a means by which citizens are contacted regarding their flood experiences, floodplains are analyzed, and projects are developed to effectively mitigate flooding.
“This new CRS Rating and the sizeable discounts our residents may receive on their flood insurance premium costs is a significant achievement for our City,” said West Palm Beach Mayor Jeri Muoio. “It’s an endorsement of our City and the many initiatives that we have undertaken to protect our residents and their property in the areas of disaster preparedness, flood mitigation and storm water improvement. I couldn’t be prouder of the City’s Flood Management team, and I congratulate them on this achievement.”
The new discount contrasts with the 20 percent discount awarded to new flood insurance holders in the Special Flood Hazard Areas under the previous Class 6 rating. Although recently awarded a Class 5 rating, the City is diligently working to achieve the more desirable Class 4 rating.
Residents of the City are encouraged to purchase flood insurance in hopes that in the event of a storm potential damages will be covered and insured. The City of West Palm Beach has a dedicated Flood Information Hotline for information concerning flood insurance and/or flood zones; please call (561) 805-6705. For general flood information and information about flood insurance, please visit: http://wpb.org/Departments/Development-Services/Flood-Information