Anticipating a large crowd for next Wednesday’s meeting on the new FEMA regulations and how they affect Greenwich home owners, Town Planner Diane Fox tried to reserve the large conference room at town hall, only to discover that another town agency has preempted the space. Stay tuned for its new location and, possibly, date.
- FEMA: Overview of NFIP
- FEMA Information on changes to the policies and rates of the NFIP
- NFIP Specific Rating Guidelines
FEMA’S Rate Relief Programs
In anticipation of increasing flood insurance rates, FEMA identifies several options that may directly or indirectly result in flood insurance discounts to policyholders.
- NFIP Community Rating System
The NFIP Community Rating System (CRS) offers insurance premium discounts (up to 45 percent) for individuals in communities implementing floodplain management practices that exceed the minimum requirements of the NFIP. By implementing CRS floodplain management best practices, flood losses are reduced, public safety is enhanced, and the cost of flood insurance is decreased.
- Elevation Certificates
An Elevation Certificate is an important tool that documents your building’s elevation. The below fact sheet provides valuable information for homeowners including guidance for obtaining an Elevation Certificate which is necessary for determining full-risk rates in high-risk zones. It may also show that you may be paying too much for flood insurance.
- FEMA Flood Map Appeal
If a person believes their property was incorrectly included in a NFIP-identified Special Flood Hazard Area (SFHA), they may submit an application to FEMA for a formal determination of the property’s location and/or elevation relative to the SFHA.
- Raise the Deductible
And like any other insurance policy, you can always raise the deductible.
- Interactive Map for NFIP Subsidized Policies by State and County
- Determine Your Flood Zone: “V” (high risk coastal), “A” (high risk river), “X” (low risk) or “D” (unmapped)
Additional Information & Research
- FloodSmart.gov – The official site of the NFIP, Residential Coverage
- FloodSmart.gov – Residential, Policy Rates
- FloodSmart.gov – Commercial Coverage
- FloodSmart.gov – Commercial, Policy Rates
- FEMA: Homeowner’s Guide to Elevation Certificates
- FEMA: Letter of Map Amendment & Letter of Map Revision – Based on Fill Process