OCEAN CITY– Ocean City is one of only 203 communities in the United States that has achieved a 15% discount level for active community Flood policyholders resulting in a $1.46M in savings to property owners in 2010 alone. This represents a discount of approximately $82.00 for each flood insurance holder in the City.
The City of Ocean City helps control your cost of flood insurance by participating in the Community Rating System (CRS) under the National Flood Insurance Program (NFIP). The goal of the CRS program is to award communities for exceeding the minimum standards in flood mitigating activities under NFIP.
Currently, active policies throughout Ocean City could pay as much as $11.2 M. However, since the City participates in the CRS program, premiums decreased to $9.7 million dollars this year, delivering a discount level of $1,461,144 to Ocean City policyholders.
This program is overseen by the Ocean City Department of Planning and Engineering. Specific actions taken by the City to lower property owner rates include securing funding for beach replenishment; proper street and drainage system maintenance and improvements; enforcement of impervious coverage requirements; and public education such as the insert in the tax bill and web site information.
Property owners are reminded that certain actions may jeopardize your insurance and the city’s rating such as illegally converting storage space that is below the required elevation into living space.
For more information, contact your local Flood Insurance Agent or go to http://www.fema.gov.
Cape May – Governor Murphy says he doesn't know anything about the drones and doesn't know what they are doing but he does know that they are not dangerous. Does anyone feel better now?
