Middletown Releases Updates To Flood Insurance Discount Program

Since the discount on renewing flood insurance policies was first , there have been further clarifications as to which residential zones can take advantage of the program

All standard rate policies in zones A or V are eligible for the 10 percent discount. While standard rated flood insurance policies in zones B, C, X, D, AR and A99 are entitled to a five percent discount.

Preferred risk policies, which are applicable in zones B, C and X are already discounted and are not eligible for further discount.

The following categories are not eligible for CRS premium discounts, according to the Federal Emergency Management Agency:

• Emergency Program communities
• Preferred Risk Policies
• Mortgage Portfolio Protection Program policies
• Post-FIRM structures located in a Special Flood Hazard Area (SFHA) where the lowest floor elevation used for rating is at least one foot or more below the Base Flood Elevation (BFE), with the following exceptions: 
  • Post-FIRM V-Zone buildings with unfinished breakaway wall enclosures and machinery or equipment at or above the BFE.
  • Subgrade crawlspaces with certification from a community official. The subgrade crawlspace exception must be certified by a community official letter.

This flood insurance discount is offered because of Middletown’s participation in FEMA’s Community Rating System.

FEMA’s Community Rating System (CRS) provides discounts for flood insurance premiums within and outside the Special Flood Hazard Area (SFHA,) commonly known as the 100-year floodplain.