City of Wood Dale issued the following announcement on Nov. 9.
Thanks to the current Class 5 Rating, Wood Dale residents receive a 25% discount on their flood insurance. The Federal Emergency Management Agency has issued a statement that Wood Dale will retain its Class 5 Community Rating.
As a part of the National Flood Insurance Program (NFIP), the Community Rating System is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum program requirements.
As a result, flood insurance premium rates are discounted to reflect the reduced flood risk resulting from the community actions meeting the three goals of the Community Rating System:
- Reduce flood damage to insurable property
- Strengthen and support the insurance aspects of the National Flood Insurance Program
- Encourage a comprehensive approach to floodplain management
National Flood Insurance Program Community Rating System
Original source can be found here.
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