To encourage communities to establish a floodplain management program that recognizes and encourages floodplain management activities that exceed the minimum National Flood Insurance Program requirements, the Community Rating System was created. This program provides communities with discounts on flood insurance premiums.
Pinellas County actively participates in the NFIP and the CRS on behalf of residents living in unincorporated areas. From October 2014 to September 2015, an audit was conducted on the County’s Community Rating System (CRS) program by Insurance Services Office, Inc. (ISO), contractors for the Federal Emergency Management Agency (FEMA). Prior to this audit, Pinellas County was a Class 7, which provided residents and businesses in the unincorporated limits of the County’s Special Flood Hazard Area (SFHA) a 15% discount on their flood insurance premiums.
The result of this audit was an increase in rating from a Class 7 to a Class 5. As of May 1, 2016, residents and businesses of the unincorporated limits of the County’s SFHA will receive a 25% discount on their flood insurance premiums, saving them over $5,300,000 annually.
CRS classes and premium discounts: