Did you know that flood insurance premiums can be reduced by up to 45%? If a municipality participates in the Community Rating System (CRS) of Federal Emergency Management Agency’s (FEMA) program, it can earn flood insurance discounts based on the community’s voluntary efforts to reduce the risk of property damage due to (coastal) flooding. Ratings are based on a point system. There are 10 levels, 1 being the highest and 10 being the lowest. With each level achieved, 500 points is awarded which equates to a 5% discount. The highest rating in Cape May County is a level 3 that only 13 communities in the entire country have achieved. Those two successful communities are Sea Isle City and Avalon. Both have been awarded a 35% discount for flood insurance. The average cost of flood insurance nationwide is $700 per year. In Cape May County, West Wildwood has the highest at $1,110 per year. The lowest is Sea Isle City at $490 per year. Sea Isle and Avalon deserve a round of applause. The discounts not only mean cheaper flood insurance and safer communities but less worry and stress. Their building codes require homes to be elevated to avoid damage to personal and real property. Both Sea Isle and Avalon add at least an extra foot to the county’s required base flood elevation. If you live 2 or 3 hours away, this is a big relief. For more detailed information, go to:
For more information specific to Sea Isle go to:
FEMA defines base flood elevation:
For more information specific to Avalon go to:
Flood insurance is purchased through FEMA’s National Flood Insurance Program (NFIP). This government run program keeps flood insurance affordable.
Here are some interesting facts about homeowner’s insurance (fire, liability and personal property insurances).