As of October 2023 Accomack County is rated a Class 5, which provides a 25 percent discount on flood insurance premiums within the unincorporated portions of Accomack that are new or renewed beginning October 2023. Within Virginia, 28 counties, cities, and towns participate in the CRS program. The discount varies according to the community’s level of effort. In return for a community’s adoption of standards that go above and beyond the minimum NFIP requirements, flood insurance premium rates for property owners residents within the participating community are discounted. Promote the awareness of flood insurance.The CRS is an incentive program that encourages communities to adopt floodplain management activities that exceed the minimum requirements for FEMA's National Flood Insurance Program (NFIP) to: If an additional amount of insurance is selected as an option on the renewal bill.ĭiscounts on Annual Flood Insurance Premiums:īecause Accomack County participates in the FEMA’s Community Rating System (CRS), property owners in the unincorporated portions of Accomack County qualify for annual discount on their flood insurance.If flood insurance is required as a result of a lender determining that a loan that does not have flood insurance coverage should be protected by flood insurance.When the purchase of insurance occurs during the one-year period following issuance of a revised flood map for a community.When the purchase of insurance is done in connection with making, increasing, extending or renewing a loan.Keep in mind there is a 30-day waiting period between purchase and when coverage begins, to prevent purchasing insurance when a major storm is forecast (only to cancel the policy when the threat passes).
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