LAMBERTVILLE: Flood policies could be cheaper

By John Tredrea, Special Writer
   LAMBERTVILLE — Homeowners interested in purchasing or renewing flood insurance policies are eligible for a 10 percent discount on their policies, due to the city’s reclassification by the Federal Emergency Management Agency (FEMA).
   ”As of May 1, Lambertville became a Class 8 community in FEMA’s Community Flood Rating System,” city Clerk Cindy Ege said Friday.
   ”The FEMA Community Rating System (CRS) provides discounts for flood insurance premiums within and outside the Special Flood Hazard Area (SFHA,) commonly known as the 100-year floodplain, Ms. Ege said.
   ”This reclassification will equate to a 10 percent premium discount for policies in the SFHA with all renewals and new policies applied for after May 1, 2012; policies outside the SHFA will receive a 5 percent discount,” she reported.
   At the end of April, Lambertville had 253 flood insurance policies in effect, officials said. The policies carried $65 million in insurance coverage. The total amount of premiums paid for the policies is about $355,000, with a total projected savings of $35,000, due to the Class 8 rating.
   The discount will become even more significant with the expected increases in flood insurance premiums for some Pre-FIRM buildings losing subsidized rates over the next four years.
   Mayor David Del Vecchio said he “commends the volunteer members of the City of Lambertville’s CRS workgroup for their efforts on achieving the rating” that will bring insurance savings to property owners. The members included residents, Ken Bogen, David Burd, John Franzini, Richard Green, Paul Hamilton, John Miller and Construction Official Ken Rogers.
   For more in information, residents can contact Mr. Rogers at the Construction Office located at City Hall, 18 York St., or by calling 609-397-0803 during office hours.
   For additional information about Lambertville and the city’s Hazard Mitigation Plan, visit: www.lambertvillenj.org.
   For details on the Community Rating System, see FEMA’s website at http://www.fema.gov/business/nfip/crs.shtm.