Insurance Rates Could Drop After Increase in Community Class
HERNANDO – Home owners may be able to save on flood insurance, after county officials say Hernando County’s class rank has increased.
According to spokesperson Denise Moloney, our community has improved to a Class 5 rating under the Community Rating System (CRS) program, which entitles residents to significant savings on flood insurance. There are 1,300 communities nationwide in the CRS and roughly 7% have reached Class 5. In Florida, of the 230 communities participating in the CRS, about 8% (or 19) have reached Class 5. Eight of the 19 are municipalities and the remaining 11, or 5% of the statewide total, are county governments.
Through closely coordinated efforts between BOCC employees and the Sheriff’s Office, the project team compiled vast amounts of documentation in support of the activities Hernando County undertakes each year to meet the three goals of the CRS program: (1) reduce flood damage to insurable property; (2) support the insurance aspects of the National Flood Insurance Program; and (3) encourage a comprehensive approach to floodplain management.
As a direct result of the work performed by County employees, effective May 1, 2015 residents in the Special Flood Hazard Area (SFHA) are entitled to a 25% discount on their flood insurance premiums. Residents outside the SFHA are entitled to a 10% discount on flood insurance premiums.
On Tuesday, June 9th, a plaque from the Federal Emergency Management Agency was presented at the County Commission meeting recognizing Hernando County for its achievement on the Community Rating System.
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