Flood Insurance Reduction

Published on May 08, 2023

The Village of Pinecrest has made exceptional progress in lowering annual flood insurance premiums for its residents by implementing effective floodplain management measures. By proactively participating in the National Flood Insurance Program's Community Rating System and implementing a comprehensive stormwater improvement management plan, the Village has successfully obtained a community-wide discount on flood insurance premiums. The decrease in flood insurance premiums in Pinecrest apply automatically Village-wide because of the flood mitigation measures put in place since incorporation. The Village has recently upgraded its flood management rating, resulting in an additional 5% reduction in flood insurance premiums. This achievement raised the Village's rating from Class 8 in 2016 to Class 7, resulting in an overall 15% reduction for Village property owners. By implementing proactive floodplain management strategies and continuously improving its flood management program, the Village remains dedicated to safeguarding its residents and businesses from the financial consequences of flooding and enhancing the overall resilience of the community. “Our comprehensive floodplain management plan, which includes participation in the National Flood Insurance Program and the adoption of a Floodplain Management Ordinance, is just one way we are working to reduce the risk of flood damage and property loss,” stated Mayor Joseph M. Corradino. “Additionally, the Village is also working tirelessly to complete storm drainage improvement projects, such as swale grading and the installation of French drains, to alleviate localized flooding.”  This initiative is in alignment with the Village Council's Strategic Priorities, which encompass Organizational Excellence & Financial Stability, Residential Character & Community Enhancement, Recreation & Infrastructure, Environmental Sustainability, and Transportation & Pedestrian Mobility.The 15 percent decrease in flood insurance premiums applies to current insurance rates, which may have increased over the years. The Village does not control rates set by insurance companies.