Lane County’s floodplain management practices are above minimum national standards. As a result, flood insurance premiums for county residents have been lowered by 15 percent.
The discounts, which took effect in June, are expected to save residents up to $225,000 annually. The savings to local homeowners are possible because of the Lane County’s recent acceptance into the National Flood Insurance Program’s Community Rating System.
The Community Rating System (CRS) is a voluntary federal program that recognizes and awards communities for taking on floodplain mitigation activities that exceed the minimum standards required by the National Flood Insurance Program or NFIP. Since 1970, Lane County has been a participating community in the NFIP.
Under the CRS, insurance premium rates are lowered to reflect the reduced flood risk resulting from actions that communities take to meet the objectives of the CRS. Those objectives are:
(1) Reduce flood losses:
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- Protect public health and safety.
- Reduce damage to buildings and contents.
- Prevent increases in flood damage from new construction.
- Reduce the risk of erosion damage.
- Protect natural and beneficial floodplain functions.
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(2) Facilitate accurate insurance rating.
(3) Promote the awareness of flood insurance.
Today the Lane County Board of Commissioners will be presented with a plaque from the Federal Emergency Management Agency (FEMA) commemorating the county’s achievement and acceptance into the CRS.
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