VILLAS — Every year, flooding causes hundreds of millions of dollars’ worth of damage to homes and businesses around the country. Standard homeowners and commercial property policies do not cover flood losses. So, to meet the need for this vital coverage, the Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP).
The NFIP’s Community Rating System (CRS) recognizes community efforts beyond those minimum standards by reducing flood insurance premiums for the community’s property owners. The CRS is similar to — but separate from — the private insurance industry’s programs that grade communities on the effectiveness of their fire suppression and building code enforcement.
The Township of Lower, under the direction of their newly appointed CRS Coordinator Jennifer M. Dowe, CFM, is in the initial phase of the CRS participation application process and has informed the FEMA Regional Office of the Township’s interest in applying for CRS Class Rating.
CRS discounts on flood insurance premiums range from 5% up to 45%. Based on the total number of points your community earns, the CRS assigns you to one of ten classes. Your discount on flood insurance premiums is based on your class. A community accrues points to improve its CRS Class rating and receive increasingly higher discounts. Points are awarded for engaging in any of 19 creditable activities, organized under four categories: public information, mapping and regulations, flood damage reduction, warning and response. Formulas and adjustment factors are used to calculate credit points for each activity.
Dowe has been working with representatives from the FEMA Regional Office and the NJ State NFIP Office to establish compliancy and to provide the necessary documentation to show that the Township is implementing the minimum standards of the NFIP.
In order to move forward and guarantee the township’s participation in the CRS Program, Dowe has called on the support of Smart Vent Products, Inc. to utilize some of the free services they provide to the Township’s residents, community officials and local professionals.
Under the direction of Smart Vents Products, Inc. and their team of Certified Floodplain Managers and Licensed Insurance Agents, Dowe has proposed the township host a Community Outreach Event for township residents to get answers to their individual flood insurance questions and to review their individual insurance policies on the spot in order to lower individual premiums.
Dowe is also proposing the township host an upcoming educational seminar, for local officials and professionals, presented by Smart Vent Products, Inc. The educational courses will provide continuing education credits to local officials as well as insurance professionals, surveyors, floodplain managers and real estate agents at no cost to the Township or professionals. The educational courses will touch on floodplain design, construction, impacts on flood insurance and NFIP loss prevention solutions.
Dowe will be at the Aug. 15 council meeting to introduce representatives from Smart Vent Products, Inc. to discuss the outreach programs and educational seminars they offer.
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