STRATFORD – Residents of Stratford, Connecticut have received a reduction in their flood insurance premiums through the increase of various floodplain management measures encouraged by the National Flood Insurance Program (NFIP). Molly Kaput of FEMA presented recognition to the Town for their efforts at the Town Council meeting Monday night.
The Federal Emergency Management Agency (FEMA) oversees the NFIP, which administers a program called the Community Rating System (CRS). The CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed minimum NFIP requirements. The program includes 10 different class rating levels based on the number and type of activities voluntarily initiated by the participating community. Each level corresponds to a percentage discount on National Flood Insurance policy premiums within the municipality.
As a member of the Community Rating System, Stratford is within an elite group of 13 Connecticut communities that have received this recognition. With the steps taken by Stratford to protect its citizens and increase its resiliency, it has entered the program as a Class 8 Community Rating System participant. The Class 8 rating qualifies eligible National Flood Insurance Program policy holders in the Town an average of over $140 in savings on their annual premiums. In total, the entry into the program accounts for $250,000 in savings annually for citizens of Stratford.
“Stratford is recognized as a leader in statewide resilience efforts, and this recognition highlights our commitment to flood protection and saving lives and property,” said Mayor Laura R. Hoydick. “I want to thank our Planning and Zoning staff, particularly our Administrator Jay Habansky and new Town Planner Susmitha Attota, for their work with FEMA to achieve this new Class 8 rating for Stratford, which will mean a 10% savings to eligible residents of Stratford on their flood insurance bills, or an average of $140 per NFIP policy.”
Under the CRS, local officials are asked to meet three goals: (1) reduce flood losses; (2) facilitate accurate insurance rating; and (3) promote the awareness of flood insurance. Communities can earn a CRS rating by submitting an application explaining the projects they have in place or development. Once the information is verified and approved, FEMA provides flood insurance premium discounts through the NFIP. The amount of a property owner’s policy discount is based on the community’s CRS rating.
For each Class that a community moves up to, it provides its residents with an additional 5% reduction in their flood insurance premiums up to the 45% reduction that a Class 1 community receives. As a Class 8 community, the Town of Stratford enables eligible residents to receive a 10% reduction on their flood insurance premiums.
For information about flood insurance, property owners should contact their insurance agent, visit floodsmart.gov, or call the NFIP’s toll-free information line at 800-427-4661. To learn more about the CRS, visit https://www.fema.gov/national-flood-insurance-program-community-rating-system.
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