New FEMA certification means Henrico property owners will save on flood insurance

Henrico County property owners will be able to save on flood insurance costs beginning in October with the county’s participation in the Federal Emergency Management Agency’s Community Rating System (CRS). The county is entering the system with a rating of Class 5* — one of the highest in the state and the highest ever obtained by a municipality in its first year under the current program requirements, according to FEMA.

“The CRS program recognizes our commitment to responsibly managing our floodplains. It’s about doing our best to ensure our community is safer, more informed, and better prepared for flood risks today and in the future,” said Kristin Owen, Henrico’s floodplain and dam safety manager.

The CRS is a voluntary incentive program that recognizes and encourages community floodplain management practices that exceed the minimum requirements of the National Flood Insurance Program. In CRS communities, flood insurance premium rates are discounted to reflect the reduced flood risk. Points are awarded to the community based on its floodplain management practices, with the number of points determining a community’s rating. Ratings range from Class 10 (0-499 points with a 0% discount) to Class 1 (4,500+ points, with a 45% discount).

With Henrico’s Class 5* rating, property owners will automatically receive a 25% discount on flood insurance premiums through the NFIP. In Henrico, about 1,500 homes, commercial buildings and other structures are located within a floodplain. This new rating is estimated to save an average of $145 per flood insurance policy.

The asterisk indicates that Henrico has the required number of points for a higher rating of Class 4. A Class 4 rating requires a community to have a watershed management plan and other prerequisites. The Department of Public Works intends to add these plans to its floodplain management practices within the next year to increase the rating.

The CRS gives points to communities from 19 categories based on floodplain management. Henrico received the maximum number of points for map information services and outreach programs, and received more than four times the points than the average community in the nation for the higher regulatory standards category, as of FEMA’s data from October 2023, according to Owen.

“Protecting the floodplains in Henrico County is a top priority to us,” Owen said. “It’s about ensuring that we have sustainable development practices that minimize flood damage and enhance our community’s resilience, so Henrico can continue to thrive.
“We’re here to help make sure that Henrico is not just a place you live, but a place where you feel supported and secure.”

The news is just the latest environmental effort undertaken by the county, Henrico Board of Supervisors Chairman and Varina Supervisor Tyrone Nelson said during a press conference at Echo Lake Thursday. He cited, among other efforts, the county’s planned expenditure of $50 million for stormwater and drainage improvements (approved by voters in a 2022 bond referendum), its recent $17.25-million purchase of the historic 2.095-acre Varina on the James site along the James River, its funding of the Center for Environmental Studies and Sustainability at Varina High School and planned construction of an environmental education center on Wilton Farm in Varina, another site it purchased several years ago.

“And it’s going to get even better, as we continue to do what’s right for our community and for our environment,” Nelson said. “Today’s announcement of our new FEMA rating is just one more example of how our county is working hard to better serve our community.”

Flood insurance savings as part of Thursday’s announcement could fluctuate greatly from one policy to another depending upon several factors such as floodplain elevation and location. The number of affected parcels and structures may change as well, as Henrico is currently working to update the county’s community floodplain maps by next spring, following FEMA’s map update this year. This update will have the added benefit of increasing the number of points to Henrico’s overall CRS rating.

Flood insurance discounts will begin Oct. 1 for those purchasing new policies or when a policy renews, for those with existing ones.