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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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  • Thank you. This is the most informative post I have ever seen on this site. And I’m grateful for your thoughtful response.

    Please keep us up to date about this.

    Thursday, 11 June 2015, 5:53 pm
  • Thanks for this info Tom. Community news is severely lacking in other publications and it’s nice to see you branching out. People need this type of information! I renewed my policy in April, so this makes me curious if there will be a refund coming my way or if I missed the boat by paying early. Any idea?

    Wednesday, 10 June 2015, 9:02 am
    • Hi! I am an insurance agent so I figured I could help out here… Hernando county was previously a class 6 CRS discount (20%). Being upgraded to a class 5 is great news but you will only see an additional 5% discount on your premium since the 20% was already in place. Anyone renewing with an effective date after 05-01-2015 automatically has the credit update on the renewal offer. Anyone renewing with an effective date of 04-30-2015 or earlier will continue to receive the class 6 credit of 20% until their next renewal. Rate changes that increase or decrease premium are always applied at the next renewal effective date – so when a rate increase is passed by Congress in October, your premium doesn’t increase until your next renewal.
      **It is also important to note that people in non-hazardous flood zones only receive a 10% discount for both class 5 and 6 CRS classes. I wonder if you could add this info to the article, Tom? I can provide the documentation from the FEMA handbook if you need it to verify. My phone number is 352/683-6266. Thanks!

      Thursday, 11 June 2015, 5:06 pm
  • CRS?????mmmmmm…neither can I…

    Wednesday, 10 June 2015, 2:47 am
  • If it’s not about traffic accidents, nobody cares. Whaddya want: me to think? Too substantive for me.

    Tuesday, 9 June 2015, 7:02 pm

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