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OCMD residents eligible for lower flood insurance premiums

June 15, 2017
11:05 AM

Ocean City residents now receive a 20 percent reduction on eligible National Flood Insurance Program (NFIP) premiums. This change -- an increase over the previous 15 percent -- is a result of the town's increased flood management activities. In total, Ocean City policyholders now will save over $1.5 million annually.

The premium reduction is a benefit of the Community Rating System (CRS), a voluntary incentive program that encourages floodplain management that exceeds minimum NFIP requirements. CRS participation requires local officials to meet three goals: 1) reduce flood losses, 2) facilitate accurate insurance rating, and 3) promote awareness of flood insurance. 

Ocean City is among 15 Maryland communities that currently are participating in the CRS program:

  • Baltimore, City of 
  • Bel Air, Town of 
  • Calvert County 
  • Caroline County 
  • Carroll County 
  • Cecil County 
  • Dorchester County 
  • Frederick, City of 
  • Harford County 
  • Havre de Grace, City of 
  • Howard County 
  • North Beach, City of 
  • Ocean City, Town of 
  • Prince George’s County
  • Talbot County

The program includes 10 different class rating levels based on the number and type of activities initiated by the community. For each class that a community moves up, it provides its residents with an additional 5 percent reduction of their flood insurance premiums. Ocean City moved from a Class 7 to a Class 6 community, hence the change from a 15 to 20 percent reduction.

Read more about Ocean City’s class change  
Review other communities’ class rating level