FLOOD INSURANCE RATES REDUCED FOR Fayette County

The Fayette County Stormwater Management Department recently improved The National Flood Insurance Program's (NFIP) Community Rating System (CRS) score for Unincorporated Fayette County from a 7 to a 6. The improvement occurred when an audit was conducted by the NFIP CRS. The CRS Level 6 rating will reduce flood insurance premiums 20 percent for NFIP policies issued or renewed in a Special Flood Hazard Area after Oct 1, 2009.

The audit assigned credit points for floodplain management activities conducted by the Stormwater Management Department and other departments that exceed minimum NFIP requirements. Fayette County received high marks for its efforts in preserving open space in the floodplain. This open space is achieved through implementation of Fayette County’s Floodplain Management and Watershed Protection Ordinances.
Many residents that were previously outside floodplain and/or not paying for insurance are now being notified by their lending institutions that they must purchase flood insurance. Mortgage companies may require flood insurance for any property that might flood but are mandated by law to require insurance for any building within a FEMA flood area.
In May 2010 FEMA plans to increase premiums for the first time in 25 years as a result of the 2005 hurricanes including Hurricane Katrina. The lower CRS rating will help lower the increase of premiums in Fayette County.