CHARLESTON COUNTY, S.C. (WCBD) – Some Charleston County residents will have the opportunity to receive discounts on their flood insurance premiums.
The Charleston County Building Inspection Services announced Tuesday an improvement to its Community Rating System Classes for residents in the towns of Hollywood, McClellanville, and Ravenel to receive the discounts.
The Community Rating System is a voluntary program that “rewards communities for taking a proactive approach to flood mitigation beyond minimum standards” set by the National Flood Insurance Program.
A graded scoring system by CRS allows communities that implement higher regulatory standards and comprehensive floodplain management efforts to receive greater discounts on their insurance premiums.
“Not only does participation in the CRS save citizens money on their flood insurance premiums, but it also enhances public safety, reduces damages from flooding, and promotes environmental protection,” said county officials.
Hollywood and McClellanville are improving from Class 7 to Class 6 communities, which increases a policy discount from 15% to 20%. The Town of Ravenel is improving from a Class 6 to Class 5, which increases the discount from 20% to 25%.
County leaders said these discounts add up to over a hundred dollars a year in savings for some residents.
Charleston County is a Class 3 community, which means a 35% discount on flood insurance for residents of unincorporated areas. Charleston County is in the top 10 of the 1,730 communities that participate nationwide.
Discounts go into effect October 1, 2022
“The new discount rate will not automatically go into effect until residents’ flood insurance policy “renews,” so individuals should contact their insurance agent to ensure they receive the new discount rate as soon as it is available,” officials said.