The National Flood Insurance Program (NFIP) Community Rating System (CRS) was implemented as a voluntary program for communities to recognize and encourage community floodplain management activities that would exceed the minimum NFIP standards. Any community in full compliance with the minimum NFIP floodplain management requirements may apply to join the CRS. The NFIP provides the opportunity for homeowners, renters, and business to purchase flood insurance for protection from flooding. FEMA also works with communities to update and develop flood maps to inform the community of their current flood risk. These actions allow community members to take important steps to prepare for flooding risk in their area.
Under the CRS program, flood insurance premium rates for Seaside Heights are discounted to reward community actions that meet the three goals of the CRS, which are: (1) reduce flood damage to insurable property; (2) strengthen and support the insurance aspects of the NFIP; and (3) encourage a comprehensive approach to floodplain management. Our community accrues points to improve its CRS Class Rating and receives increasingly higher discounts. Points are awarded for engaging in creditable activities.
The Community Rating System Provides Incentive for Stronger Floodplain Management and Potential Discounts in Flood Insurance Premiums. Here is just a few examples of what some of the benefits are:
• Lower-cost flood insurance rates are only one of the rewards a community receives from participating in the CRS.
• Property owners in CRS communities have increased opportunities to learn about risk, evaluate their individual vulnerabilities, and take action to protect their homes and businesses.
• CRS floodplain management provides enhanced public safety, reduced damage to property and public infrastructure.
• CRS communities have incentives to maintain and improve their floodplain management plan programs over time.