Sheridan Residents Pay Less For Flood Insurance
Release Date: December 13, 2001
Release Number: R10-01-66
Salem, OR -- Sheridan homeowners and renters are paying less for flood insurance. FEMA Acting Regional Director Tammy Doherty says that's thanks to the city's voluntary participation in the National Flood Insurance Program Community Rating System (CRS).
"By joining the National Flood Insurance Program (NFIP) the City of Sheridan guaranteed residents access to affordable flood insurance," said Doherty. "By actively participating in the CRS, the city is reducing the likelihood and severity of future flooding, and making flood insurance even more affordable."
Oregon Emergency Management Acting Director Ken Murphy agrees. "By embracing the concepts of pre-disaster preparedness and mitigation, communities like Sheridan help break the cycle of seasonal flood damage, and build a heritage of sustainable risk reduction."
The CRS rewards communities that voluntarily reduce the risk of flooding above and beyond those minimum actions required for participation in the National Flood Insurance Program.
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. The city of Sheridan's Class 8 Rating has earned policyholders a 10 percent reduction on flood insurance premiums, approximately $43.00 per policy.
Last Modified: Tuesday, 21-Oct-2003 13:31:39