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Biloxi — Homeowners in Biloxi will see their flood insurance premiums drop 5 percent thanks to a new rating for the city.

“We’ve been notified by FEMA that our rating has improved to a Class 6,” said Community Development Director Jerry Creel. That means residents who live in Special Flood Hazard Areas and have National Flood Insurance will see a 20 percent reduction in premiums compared to the previous 15 percent.

This discount is for policies issued on or after May 1.

Outside of that area, NFIP rates will decrease from the previous 5 percent to 10 percent, Creel said.

The Community Rating System is based on a 10-point system with 1 being the best. Cities earn points for floodplain management to reduce damage from floods. Creel said for every point the city drops, the premiums decrease 5 percent.

FEMA commended Biloxi on taking actions that will lead the city to be more disaster resistant.

Posted at www.sunherald.com on July 6, 2009

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