Flood Insurance Premium Discount through Community Rating System participation

How it works

Virginia Beach says it completed its annual review of progress toward reducing vulnerability to flooding and other natural threats. That review is required for annual recertification under the federal Community Rating System (CRS), which allows residents and business owners to save on flood insurance premiums.

The city says it has maintained its rating as a Class 7 community in CRS. Because of that rating, Virginia Beach residents and business owners receive a flood insurance premium discount. CRS is administered by the Federal Emergency Management Agency (FEMA) and managed regionally as the Hampton Roads Hazard Mitigation Plan, which is developed and maintained by the Hampton Roads Planning District Commission (HRPDC).

What the money covers

This benefit is a reduction in flood insurance premiums. It is not a repair grant, rebate, loan, or reimbursement for a retrofit project.

Amounts and matching

The page states that the discount is 15% on flood insurance premiums.

Timing and deadlines

The City must complete the CRS recertification process every year to retain eligibility for CRS participation and the flood insurance discount.

Additional details

The city says the Hampton Roads Hazard Mitigation Plan identifies threats such as flooding and tropical storms, and that mitigation actions in the plan serve as the city’s strategy to limit the likelihood of damage from those threats. The city also notes that this discount is one of the ways it helps residents and businesses access flood protection.