June 5, 2012 - Boulder’s flood management program earns discounted flood insurance rates for residents and businesses
Boulder’s flood management program earns discounted flood insurance rates for residents and businesses
The City of Boulder’s flood management program has earned community residents and businesses discounted flood insurance rates from the National Flood Insurance Program (NFIP). The city’s floodplain management efforts prompted the NFIP to improve Boulder’s Community Rating System (
Compared with standard flood insurance rates, the 20 percent discount will save Boulder businesses and residents more than $400,000 annually, resulting in a higher collective savings than any other city in Colorado.
The NFIP’s Community Rating System is a voluntary incentive program that recognizes and encourages community flood management activities, including flood preparedness, public information, mapping and regulations, and flood damage reduction. More than 1,100 communities nationwide currently participate in the
The NFIP has also informed the city that Boulder is close to becoming a Class 5 community, which would provide a 25 percent discount on flood insurance rates. Boulder is currently pursuing options to achieve this Class 5 rating.
The City of Boulder joined the
The NFIP is a Federal Emergency Management Agency (FEMA) program that enables property owners to purchase flood insurance in communities that agree to implement standard measures to reduce flood impacts. In exchange, the NFIP makes federal government-backed flood insurance available to homeowners, renters and business owners, regardless of whether their properties are in a floodplain. Flood insurance covers direct losses caused by surface flooding, including a river overflowing its banks, a lake or ocean storm, and local drainage problems. The NFIP provides insurance coverage for building structures and contents.
For more information, visit www.boulderfloodinfo.net and select “Flood Insurance” or contact Katie Knapp,
Last Updated on Friday, 15 June 2012 07:42