County’s Floodplain Management Lowers Flood Insurance Premiums
News Release from Maui County, May 24, 2018
WAILUKU, Maui – Residents will have lower flood insurance premiums after the Federal Emergency Management Agency (FEMA) recognized Maui County’s floodplain management, according to the county Department of Planning.
FEMA boosted the county’s Community Rating System (CRS) classification, effective May 1, 2018, due to its participation in the National Flood Insurance Program (NFIP). Maui County was upgraded from Class 8, which has a 10 percent discount on flood insurance premiums, to Class 7, which allows a 15 percent discount. This means the average premium will drop from $763 to $721.
Maui County has 12,337 NFIP policies in place, with premiums totaling more than $7 million annually to insure properties valued at $2.6 billion, and with savings under Class 7 of $912,560.
NFIP is a voluntary plan for communities to take a proactive approach to floodplain management. CRS incentivizes the reduction of flood and erosion risks, and rewards communities that improve minimum floodplain management standards.
The CRS has rewarded the County for efforts that include: open space purchase and preservation; making available and maintaining digital mapping for floodplain management; setting enhanced regulatory requirements for development in Special Flood Hazard Areas; enforcing regulations for storm water management, and soil and erosion control; and the adoption of the Maui County Hazard Mitigation Plan, along with annual updates and progress reports. As the County additional mitigation activities, its residents become eligible for further NFIP policy premium discounts.
“Any time County actions, policies or procedures can effectuate positive change to enhance public safety, these efforts should be recognized,” said Mayor Alan M. Arakawa. “And when the County improves public safety resulting in financial saving and benefit to our residents this, should be heralded.”
For more information, call the Zoning Administrative and Enforcement Division of the Department of Planning at 270-7253.