BRUNSWICK COUNTY—Residents of Brunswick County will soon catch a break when it comes to flood insurance costs.
The county recently received its first score through FEMA’s Community Rating System(CRS).
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This score translates to a 10 percent discount on National Flood Insurance Program (NFIP) premiums.
How it works
The voluntary program relies on a community’s activities that could mitigate the potential for damage incurred by those who live in so-called special flood hazard areas.
By rewarding communities that participate in risk-management activities, in theory, FEMA reduces the likelihood of larger flood insurance payouts after a disaster.
Though the future of the NFIP is uncertain, updated discounts for participating communities will take effect in May 2018.
Who’s on board?
Last September, Pender County hired a floodplain administrator to bring the rural county up to speed on the CRS program. Pender County is still in the beginning stages of receiving its first CRS rating.
As of 2017, both New Hanover County and Kure Beach garnered CRS ratings that qualified residents in flood-prone areas a 10 percent discount on flood insurance premiums.
According to FEMA’s 2017 report, Wilmington is not yet a participating CRS community.
On March 9, Carolina Beach announced its rating had improved. Now, residents will receive 5 percent steeper, increasing its discount to 20 percent. According to Carolina Beach’s announcement, its 20 percent discount will help save policyholders over $700,000 on flood insurance premiums.
A list of participating communities and their ratings as of Oct. 2017 can be found in the online flood manual.
Johanna Ferebee can be reached at firstname.lastname@example.org or @j__ferebee on Twitter