Cedar Rapids participated in the National Flood Insurance Program's Community Rating System, administered by FEMA. This means residents who buy flood insurance receive lower premiums for their homes or businesses.
City’s Adherence to Flood Program Reduced Insurance
Cedar Rapids participated in the National Flood Insurance Program s Community Rating System, administered by FEMA. This means residents who buy flood insurance receive lower premiums for their homes or businesses. by Marissa Payne, The Gazette, Cedar Rapids, Iowa / February 1, 2021 TNS
(TNS) - When the Cedar River flooded over 10 square miles of the city in 2008, few property owners had flood insurance slowing recovery for residents and business owners as they waited for resources from the federal government.
In 2010, city officials set out to change that by beginning the process to participate in the National Flood Insurance Program s Community Rating System, administered by the Federal Emergency Management Agency. The city s participation in the program means residents who buy flood insurance receive lower premiums for their homes or businesses.
CEDAR RAPIDS When the Cedar River flooded over 10 square miles of the city in 2008, few property owners had flood insurance slowing recovery for residents and business owners as they waited for resources from the federal government.
In 2010, city officials set out to change that by beginning the process to participate in the National Flood Insurance Program’s Community Rating System, administered by the Federal Emergency Management Agency. The city’s participation in the program means residents who buy flood insurance receive lower premiums for their homes or businesses.
The city’s efforts to reduce flood damage, foster comprehensive flood plain management and work toward building a more flood-resilient community have earned it a designation as a Class 6 community. The means a 20 percent discount on flood insurance premiums for Cedar Rapids residents compared with those in communities not in the program.
PANAMA CITY BEACH More than 12,000 local households soon will receive about a 25% discount on flood insurance.
According to a city of Panama City Beach news release, the dip was sparked when the city received an improved score on the National Flood Insurance Program Community Rating System a voluntary program run by the Federal Emergency Management Agency that rates communities on a scale of 1-10 and determines flood insurance premiums. The lower the score, the better the rate.
The press release added that the Beach improved from a Class 8 to a Class 5, which will result in more than $450,000 in annual savings for property owners.