Nome Residents Pay Less For Flood Insurance
Residents to Save 10% on Flood Insurance Premiums
Release Date: July 8, 2008
Release Number: R10-08-095
ANCHORAGE, Alaska -- City of Nome residents will enjoy reduced flood insurance premiums, thanks to the city's active participation in the National Flood Insurance Program (NFIP) Community Rating System (CRS). According to FEMA Regional Administrator Susan Reinertson, Nome residents not only pay less in insurance premiums, but enjoy reduced exposure to flood damage.
"The CRS rewards communities that proactively regulate floodplains, support flood preparedness, implement flood damage reduction policies and engage in effective public awareness programs," said Reinertson. "The City of Nome joined the CRS on 1 October 2005 as a Class 9 community. The new Class 8 rating saves Nome residents an additional five percent on annual flood insurance premiums."
Mayor Denise Michels agreed, citing the preservation of 309 acres of floodplain in a natural state and the city's aggressive public outreach program. "Our city website offers an extremely comprehensive database with flood protection information, disaster response plans and flood rate maps," said Michels. "And, we promote flood awareness through community-wide mailings, and public displays at City Hall and the Nome Public Library."
Flood insurance premium reductions resulting from qualifying community activities run in five percent increments, from five to 45 percent. Class ratings range from Ten to One. The higher the flood protection activity, the lower the Class rating. Nome's Class 8 Rating provides a ten percent discount on NFIP policies. Total NFIP coverage in Nome is around $9 million, with average premiums of $1,739. With 28 policies currently in force within the city limits, that's an average savings of $194 per policy.
FEMA coordinates the federal government's role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.
Last Modified: Monday, 14-Jul-2008 11:12:19