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Posted on: January 14, 2022

Edmond Residents Could See Reduced Insurance Rates

Drainage-Prepare-for-Storm-Web-22Edmond residents may be able to save additional money on their flood insurance after the City of Edmond recently improved its rating through the Federal Emergency Management Agency’s (FEMA) program for floodplain management.

Edmond’s rating improved one level in FEMA’s Community Rating System (CRS), which is a voluntary incentive program that recognizes and encourages community floodplain management practices that exceed the minimum requirements of the National Flood Insurance Program (NFIP).

The result of a lengthy re-verification process – and the diligent efforts of the Edmond Drainage Utility – the City rating improved to a 6, which enables residents to receive a 20 percent discount for NFIP-backed homeowner’s flood insurance if a structure is within a Special Flood Hazard Area (SFHA), and a 10 percent discount for structures located outside the SFHA – a 5 percent increase on both discounts.

The new rating began Oct. 1, 2021, and the benefits remain in effect as long as the City maintains the Class 6 level.

Across the nation, more than 1,500 communities participate in the CRS. Thanks to the City’s continuing commitment to floodplain preservation, upholding higher development standards and public education of the beneficial uses of the floodplain, Edmond earned the third highest rating among 12 CRS communities in Oklahoma. 

To find out how the new ratings might impact your insurance rates, please contact your flood insurance provider. Residents with insurance questions can also contact the Oklahoma Insurance Department at 405-216-7300.

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