Anchorage Residents Pay Less For Flood Insurance
Policy Holders Save 20 percent on Annual Premiums
ANCHORAGE, Alaska -- Municipality of Anchorage residents are about to pay less for flood insurance, as a direct result of their community's active participation in the National Flood Insurance Program (NFIP) Community Rating System (CRS). According to FEMA Acting Regional Administrator Dennis Hunsinger, they'll not only enjoy reduced flood insurance premiums, but face reduced flood risk as well.
"Our Community Rating System rewards communities that go the extra mile to enhance flood preparedness, implement flood damage reduction policies and engage in effective public awareness programs," said Hunsinger. "The new Class 6 rating saves Anchorage residents an additional five percent for a total savings of 20 percent on annual flood insurance premiums."
Anchorage Mayor Dan Sullivan concurs. "We want to make sure that Anchorage residents are familiar with and have access to the latest flood insurance rate maps," said Sullivan. "It's clearly an ideal situation when citizens can save money and be better protected in case of a flooding situation. We may not be able to prevent future floods, but we can help shield our citizens from their worst effects. That's what the CRS is all about."
Flood insurance premium reductions resulting from qualifying community activities run in five percent increments, from five to 45 percent. Class ratings range from Ten to One. The higher the flood protection activity, the lower the class rating. Total NFIP coverage in Anchorage is over $84 million, with average premiums of $647. With 345 policies currently in force within the city limits, that's an average savings of approximately $184 per policy.
FEMA's mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.