Some Flood Insurance Rates Sink in Pacific NW

Property owners in selected communities in Oregon, Idaho and Washington State are paying less for flood insurance, as of Oct. 1, 2004.

According to FEMA Regional Director John Pennington, that’s thanks to special efforts by Northwest communities participating in FEMA’s National Flood Insurance Program Community Rating System (CRS).

“The CRS rewards communities that voluntarily take steps to reduce the risk of flooding, and increase the effectiveness of flood protection, above and beyond those minimum actions required for participation in the National Flood Insurance Program,” said Pennington. “Such activities can fall under one or more of the following categories: mapping and regulations, flood damage reduction, flood preparedness or public awareness.”

Flood insurance premium reductions resulting from “above and beyond the minimum” initiatives run in five percent increments, from five percent to 45 percent. Class ratings range from Ten to One. The higher the flood protection activity, the lower the Class rating.

Four Pacific Northwest CRS communities earned additional flood insurance premium reductions from five to 20 percent for their residents:

* Anchorage (from an Eight to a Seven) in Alaska;
* Clackamas County (Class Five) and the City of Rockaway Beach (Class Eight) in Oregon; and
* Clark County (Class Seven) in Washington.

Nearly 4.4 million flood insurance policies are currently in force in more than 20,000 participating communities across America, representing more than $702 billion worth of coverage. Nearly 3 million policyholders in 1,006 communities now reportedly benefit from the Community Rating System.