NEW POLICY ON CRS DISCOUNT

This notice is to advise you that FEMA is initiating a change in the way Community Rating System (CRS) premium discounts are applied to flood insurance policies. Some policies will no longer receive CRS premium discounts.

Currently, all flood policies in the City of Indian Rocks Beach receive a 10% CRS premium discount. Beginning with policies renewing in May of 2008, structures which, according to FEMA’s records, have their first living flood located one foot or more below FEMA’s Base Flood Elevation (BFE) will no longer receive this 10% CRS premium discount.

When you receive your next flood insurance premium notice, look for the CRS discount %. If the percentage shown is 0, and you believe that is in error because you believe your structure’s first living floor is higher than one foot below BFE:

1.  Read the "Winter 2007-08 NFIP/CRS Update" article posted on this website for FEMA’s full explanation of their new policy.

2.  Talk to your insurance agent to confirm your CRS discount % and verify how your structure has been rated.

3.  Contact the Building Official (727-517-0404) to help determine whether there are errors and to provide you with supporting documents to correct the errors.

4.  If your policy is correctly rated to receive no discount, discuss with  the Building Department ways to retrofit the structure to bring it into compliance.

Reference books on retrofitting are available in the IRB library and can also be found at www.fema.gov/hazard/flood/pubs/lib312.shtm.

 

W:\Planning and Zoning Department\CRS - Community Rating System\2008\NEW POLICY ON CRS DISCOUNT.doc