City Of Corvallis Earns CRS 7 Rating
Residents To Enjoy Lower Flood Insurance Premiums
Release Date: December 14, 2001
Release Number: R10-01-67
Salem, OR, -- Corvallis residents already enjoy reduced flood insurance premiums as a result of their city's active participation in the National Flood Insurance Program (NFIP) Community Rating System. According to FEMA Acting Regional Director Tammy Doherty, they're about to pay even less.
"The CRS rewards communities for activities which protect their citizens from flood hazards above and beyond those minimum actions required for participation in the National Flood Insurance Program," said Doherty. "Such activities can fall under a number of categories, including: Mapping and Regulations, Flood Damage Reduction, Flood Preparedness or Public Awareness. The City of Corvallis has broken new ground coordinating flood hazard reduction efforts and has been awarded a CRS Class 7 rating." Flood insurance premium reductions resulting from "above and beyond the minimum" initiatives run in five percent increments, from five percent to 45 percent. Class ratings range from Ten to One. The higher the flood protection activity, the lower the Class rating. Corvallis' new Class 7 Rating has earned policyholders a 15 percent reduction on flood insurance premiums. The average savings is $63 per policy per year.
Last Modified: Tuesday, 21-Oct-2003 13:30:13