Homeowners in Lewes will see lower costs for flood insurance, with the possibility of further decreases on the horizon.
At a work session of the Mayor and Council last week, city building official Jon Ward announced that the city’s Community Rating, determined by the Federal Emergency Management Agency, has gone up from class 8 to class 7.
And, Ward explained, that means property owners will save some money.
"Beginning October 1st, what this means for our residents is a 15% discount on their flood insurance,” Ward said.
The Community Rating is determined by FEMA based on factors like flood hazard mapping, open space preservation, and community outreach. Each of those factors are given points which determine a community’s rating and the discount property owners can get.
Ward says the increase in Lewes’s rating is the result of years of work on a lot of fronts.
“The city has done some tremendous work on flood resilience, floodplain, [and] higher standards,” Ward said.
There is also a possibility of a further increase in the city’s rating and a larger discount, he said.
“We earned 1,866 points. We are 34 points short of a class 6,” Ward said. “A prerequisite for a class 6 is what's called a BCEGS rating.”
That rating, the Building Code Effectiveness Grading Schedule, puts a community’s building code and processes under the microscope to see how effective they are at promoting resiliency and reducing risk. A class 6 rating would give property owners a 20% discount on flood insurance.
Ward says he expects that evaluation this fall and expressed confidence that the city would pass muster.
