Winchester Flood Insurance Holders to See Reductions in Premiums

Last month, Winchester residents and business were rewarded a discount in insurance premiums due to the Town’s participation in the National Flood Insurance Program’s Community Rating System.

On October 1, the town was accepted as a Community Rating System eligible community, which allows flood insurance policy holders who live in the Special Flood Hazard Areas to receive a 10 percent reduction on flood insurance policy holders.

Policy holders outside of the Special Flood Hazard Areas will get a five percent discount. Special Flood Hazard Areas will receive a 5-percent discount. The reduction in flood insurance premiums represents an annual savings in premium costs for Winchester policyholders and will take effect at the time a new policy is written or an existing policy is renewed.

This voluntary program was developed by FEMA for communities who participate in the National Flood Insurance Program with the intention of reducing flood losses, facilitating accurate insurance ratings and promoting the awareness of flood insurance.

The Town of Winchester is one of only 13 communities in the Commonwealth of Massachusetts to actively participate in the CRS program. Participation in the CRS program acknowledges the Town’s efforts to increase flood awareness and reduce property damage in the event of a flood.