Home Owners In Redlands Are Saving Money

REDLANDS >> Flood insurance savings have increased to 10 percent in Redlands. Redlands policy holders will see an additional 5 percent discount in flood insurance premiums on policies in special flood hazard areas issued or renewed on or after Oct. 1, 2015, thanks to city efforts. The new reductions bring the total premium discount to 10 percent for a total savings of $56,990 for insured properties. The City of Redlands participates in the National Flood Insurance Program’s Community Rating System, a voluntary incentive program administered by the Federal Emergency Management Agency (FEMA). An annual report and an intensive five-year audit details the city’s efforts including: •Preservation of open space •Furnishing flood zone and flood related information to the public •Maintaining elevation certificates for new and substantially improved buildings •Enforcing building codes and state mandated regulatory standards for developments in flood hazard areas •Maintaining and using digitized maps in floodplain management Through the Community Rating System program, FEMA recognizes and rewards improvements in flood mitigation activities in the following categories: public information, mapping and regulations, flood damage reduction, and warning and response. Extending beyond minimum National Flood Insurance Program requirements benefits the city by allowing credits for those efforts to be earned and then applied to discounts on flood insurance premiums for residents and businesses. As of Jan. 31, 2016, 648 flood insurance policies were written in the city’s flood hazard areas which amounted to $177,284,800 in property coverage. The Community Rating System classifies communities from 1 through 10, with Class 1 receiving the greatest discounts. The City of Redlands’ rating was changed from Class 9 to Class 8, bringing the total discount to 10 percent, reducing annual total premium costs to $512,919. Staff from the Municipal Utilities and Engineering and Development Services departments continue to achieve the National Flood Insurance Program’s goals in effort to benefit the City. City of Redlands press releases and other information are available on the city’s Facebook page at www.facebook.com/cityofredlands or on the City’s website at www.CityofRedlands.org