NFIP Discounts - Revision history

WikiAdmin at 20:58, 18 February 2025

2025-02-18T20:58:03Z

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	Mitigation discounts are given under the following circumstances.		Mitigation discounts are given under the following circumstances.
	* [[Machinery and Equipment\|Elevating machinery and equipment]] ~~(e.g., furnaces, HVAC systems)~~ above the building's first floor.		* [[Machinery and Equipment\|Elevating machinery and equipment]] above the building's first floor
	* Installing [[NFIP Proper Openings\|proper flood openings]] ~~(vents)~~ in enclosures ~~to minimize hydrostatic pressure and reduce damage.~~		* Installing [[NFIP Proper Openings\|proper flood openings]] in enclosures
	* [[Floodproofing]]		* [[Floodproofing]]

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	== Mitigation Discounts ==		== Mitigation Discounts ==

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	== Community Rating System Discounts ==		== Community Rating System Discounts ==

2025-02-18T19:55:06Z

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	Statutory discounts are given for the following circumstances.		Statutory discounts are given for the following circumstances.
	* [[FIRM Date#Pre-FIRM\|Pre-FIRM buildings]]		* [[FIRM Date#Pre-FIRM\|Pre-FIRM buildings]]
	* Buildings that were [[Newly Mapped]] into a [[Special Flood Hazard Area]]		* Buildings that were [[NFIP Newly Mapped Eligibility\|Newly Mapped]] into a [[Special Flood Hazard Area]]
	* [[Community Participation#Emergency Program\|Emergency Program properties]]		* [[Community Participation#Emergency Program\|Emergency Program properties]]
	* Properties in areas undergoing the restoration of flood protection systems		* Properties in areas undergoing the restoration of flood protection systems

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	These discounts encourage long-term mitigation, compliance, and community participation, making flood insurance more affordable while promoting risk-reduction strategies.		These discounts encourage long-term mitigation, compliance, and community participation, making flood insurance more affordable while promoting risk-reduction strategies.

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Community Rating System Discounts

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Community Rating System Discounts

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	These discounts encourage long-term mitigation, compliance, and community participation, making flood insurance more affordable while promoting risk-reduction strategies.		These discounts encourage long-term mitigation, compliance, and community participation, making flood insurance more affordable while promoting risk-reduction strategies.



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	These discounts encourage long-term mitigation, compliance, and community participation, making flood insurance more affordable while promoting risk-reduction strategies.		These discounts encourage long-term mitigation, compliance, and community participation, making flood insurance more affordable while promoting risk-reduction strategies.

	~~'''How It Works''':~~
	* Communities earn credit points for activities such as public education, flood mapping, and preparedness efforts.
	* These points determine the community's CRS class (1–10), with Class 1 providing the highest discount (up to 45%).

	~~'''Eligibility''':~~
	* Applies uniformly across eligible properties within the community.
	* Ineligible for properties with significant floodplain violations or non-compliance with community regulations.

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	== Community Rating System ~~(CRS)~~ Discounts ==		== Community Rating System Discounts ==

	~~'''What They Are''': are offered to policyholders in communities that exceed minimum floodplain management standards.~~

	[[Community Rating System\|Community Rating System (CRS) Discounts]] apply at the community level, not to individual buildings. Communities that go beyond NFIP minimum requirements—by improving floodplain management, maintaining drainage systems, or providing public flood awareness programs—earn a CRS Class ranking. All NFIP policyholders in that community then receive a discount, regardless of whether they’ve made individual mitigation efforts.		[[Community Rating System\|Community Rating System (CRS) Discounts]] apply at the community level, not to individual buildings. Communities that go beyond NFIP minimum requirements—by improving floodplain management, maintaining drainage systems, or providing public flood awareness programs—earn a CRS Class ranking. All NFIP policyholders in that community then receive a discount, regardless of whether they’ve made individual mitigation efforts.