Roanoke County Administrator Dan O’Donnell has announced that Roanoke County has maintained a “Class 8” designation in the Community Rating System (CRS). This means that all National Flood Insurance program policies issued or renewed on property in flood hazard zones will receive a 10% discount on flood insurance premiums. Properties not in a flood hazard zone will be offered a Preferred Risk policy.
As of March 2, 2020, there were 405 flood insurance policies in force in Roanoke County.
Property coverage amounted to $99,005,500 with an annual written premium cost of $490,269. The total savings for citizens with flood insurance as a result of the County’s participation in the CRS will be in excess of $44,461 per year.
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The Community Rating System is a program initiated in 1990 by the Federal Insurance Administration to encourage and reward community mitigation activities that are beyond the basic requirements of the National Flood Insurance program. Its goals are to reduce future flood losses, avoid economic disruption and human suffering, and promote awareness of the need for flood insurance.
There are 290 communities that participate in the National Flood Insurance Program in Virginia. Of those, 26 communities have voluntarily committed to the Community Rating System program.
For more information concerning the Community Rating System and Roanoke County’s Floodplain Management Plan and Progress Report, please contact Butch Workman in the Department of Development Services at 540-772-2037.
