Gloucester County residents will soon see a 25 percent discount on their flood insurance premiums, thanks to its continued improvement in FEMA’s Community Rating System (CRS) program, according to a release from the county’s Community Engagement and Public Information office.
The county currently has a Class 6 rating, where residents are seeing a 20 percent discount. In October, the county will begin enjoying the benefits of an improved, Class 5 rating, and the 25 percent discount that comes with it.
CRS is a voluntary incentive program that recognizes and encourages community floodplain management practices that exceed the minimum requirements of the National Flood Insurance Program. In CRS communities, flood insurance premium rates are discounted to reflect the reduced flood risk resulting from the community’s efforts that address the three goals of the program. These goals include reducing and avoiding flood damage to insurable property, strengthening and supporting the insurance as...