Peachtree Corners Receives Notification from FEMA on Improved NFIP CRS Rating – Residents to see 15% Savings on Flood Insurance
On September 13th, the City of Peachtree Corners received a letter from the Federal Emergency Management Agency (FEMA) that they have received an increase to Class 7 rating in the National Flood Insurance Program (NFIP) Community Rating System (CRS).
The increase in rating from the City’s prior rating of Class 8, will mean that residents will see a 15% discount on their flood insurance premiums. This 15% discount will be 5% more than the prior discount they received for the Class 8 rating.
A portion of the letter reads as follows:
“Congratulations! The Department of Homeland Security, Federal Emergency Management Agency (FEMA), has determined that the City of Peachtree Corners will increase to a Class 7 in the NFIP CRS. The floodplain management activities implemented by your community qualify it for a 15 percent discount on flood insurance premiums for most NFIP policies issued or renewed on or after April 1, 2023. This savings is a tangible result of the flood mitigation activities your community implements to protect lives and reduce property damage.”
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:
- Reduce and avoid flood damage to insurable property
- Strengthen and support the insurance aspects of the National Flood Insurance Program
- Foster comprehensive floodplain management
“I commend you on your community actions and your determination to lead your community to be more disaster-resistant,” said Federal Insurance and Mitigation Administration CRS Coordinator William Lesser. “This commitment enhances public safety, property protection, and protects the natural functions of floodplains, and reduces flood insurance premiums.”
Ratings are determined through the completion of activities that fall under the following categories:
- Assessing any community flooding issues
- Development/Maintenance of Mapping and flood data
- Managing new development to minimize future damage
- Developing a floodplain management plan for your community
- Reducing flood losses to existing
- Improving emergency preparedness and response
- Implementing public information activities
The CRS program is a voluntary incentive program that recognizes and encourages community floodplain management practices that exceed the minimum requirements of the NFIP. Currently, over 1,500 communities participate nationwide.