Floodplain Management Activities Result in Additional Flood Insurance Discount - City Residents Will Save 15% on Policies

According to the National Flood Insurance Program, the average flood insurance policy costs $540 a year. Through active community floodplain management activities, the City of Boynton Beach has previously been able to drive down the cost of flood insurance for residents by 10 percent under the program's Community Rating System. Now, residents will save an additional 5 percent for a total of 15 percent following a five-year cycle visit by NFIP's rating agency.

CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements. As a result, flood insurance premium rates are discounted to reflect the reduced flood risk resulting from community actions meeting the three goals of the CRS: Reduce flood losses; facilitate accurate insurance rating; and promote the awareness of flood insurance. For CRS participating communities, flood insurance premium rates are discounted in increments of 5 percent.

Boynton Beach is one of nearly 900 communities receiving flood insurance premium discounts. While premium discounts are one of the benefits of participation in CRS, it is more important that communities are carrying out activities that save lives and reduce property damage. Over 66 percent of the NFIP's policy base is located in these communities.

For more information on the National Flood Insurance Program, visit www.floodsmart.gov. For more information on the policy discount, consult your insurance agent.