The National Flood Insurance Program’s (NFIP’s) Community Rating System (CRS) is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements. As a result, flood insurance premium rates in participating CRS communities are discounted to reflect the reduced flood risk resulting from community actions that meet the three goals of the program:
- Reduce flood damage to insurable property;
- Strengthen and support the insurance aspects of the NFIP, and
- Encourage a comprehensive approach to floodplain management.
For participating CRS communities, flood insurance premium rates are discounted in increments of 5% (i.e., a “Class 1” community would receive a 45% premium discount, while a “Class 9” community would receive a 5% discount). The CRS classes for local communities are based on 18 creditable activities, organized under four categories:
- Public Information,
- Mapping and Regulations,
- Flood Damage Reduction, and
- Flood Preparedness.
The City of Baltimore is currently working to become a participating CRS community. Doing so will help Baltimore’s residents and other property owners to reduce the costs associated with insuring their properties against losses caused by flooding.
To learn more about CRS, visit FEMA’s NFIP Community Rating System Website.