Home » Preparedness » Biloxi, Miss. earns Discount on Flood Insurance Premiums

Biloxi, Miss. earns Discount on Flood Insurance Premiums

English: Bay St. Louis, MS, December 11, 2007 ...

English: Bay St. Louis, MS, December 11, 2007 — A resident looks through new preliminary flood map information at an open house in Hancock County. The event kicks off the process for community adoption of the Digital Flood Insurance Rate Maps to meet requirements of the National Flood Insurance Program. Jennifer Smits/FEMA (Photo credit: Wikipedia)

ATLANTA – Biloxi residents with flood insurance policies will now
receive a decrease on their annual flood premiums thanks to the city’s
active participation in the National Flood Insurance Program’s Community
Rating System

FEMA Region IV Floodplain Management and Insurance
Branch Chief Susan Wilson recognized Biloxi officials today with a
plaque for the city’s efforts in becoming the third city in the state to
earn a Class 5 community rating.

“Reaching a Class 5 rating is so
rare nationwide that it really speaks to the local officials and their
hard work and determination,” Wilson said. “They understand the extra
effort isn’t just for a decrease to insurance premiums, but it is
ensuring the entire city is more resistant to flood damage and more
disaster resilient overall.”

The CRS rewards communities that
voluntarily take steps to reduce flood risks beyond the minimum
requirements of the NFIP.  These steps, which include increasing flood
protection and implementing preparedness and mitigation activities, lead
to safer communities and ultimately help saves lives and property. As a
result, property owners and renters in CRS-participating communities
enjoy a reduction in flood insurance premiums. Communities are ranked
from a 10 to 1 scale which determines their flood insurance discounts.

policyholders began receiving flood insurance discounts from the CRS
program in 1996. As a result of additional steps the community has
recently taken, the community moved from a CRS Class 6 to a CRS Class 5
effective May 1, earning an additional five percent savings on flood

There are more than 5,900 flood insurance policies in
Biloxi, representing more than $1.5 billion in flood insurance
coverage.  Policyholders located in the high risk areas of flooding, or
Special Flood Hazard Areas, can now receive a 25 percent discount on
their policy premium, which is an average savings of $285 per policy.
Some policyholders in the lower risk areas are eligible for a 10 percent
discount.  In total, policyholders realize an annual savings of more
than $437,000 because of the community’s CRS participation.

is a voluntary program for NFIP-participating communities. The intended
goals of the program are to reduce flood losses, facilitate accurate
insurance ratings and to promote the awareness of flood insurance.  The
two other Mississippi communities to earn a Class 5 rating are
Pascagoula and Waveland.

For more information on the NFIP’s CRS program visit www.fema.gov/business/nfip/crs.shtm.  For more information about the NFIP, a program administered by the Federal Emergency Management Agency (FEMA), visit www.floodsmart.gov.

Community Rating System Facts:

Nationwide Communities: 1,211

Nationwide Class 5:               66

Mississippi Communities:      29

Mississippi Class 5:                 3

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.


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