Flood mitigation efforts lead to savings for Concord residents
CONCORD, CA (August 27, 2022) — All flood insurance policy holders in the city can receive a 20 percent discount, thanks to the city’s Community Rating System (CRS) of class 6.
The discount is part of a national program regulated under the Federal Emergency Management Agency (FEMA).
The city has completed its annual review of the Local Hazard Mitigation Plan (LHMP) and the Repetitive Loss Properties Report. The report reviews 18 action items to reduce or prevent flood damage.
From 2012 to 2019, Concord was in a different CRS class and only qualified for a 15% discount. Interim city engineer Bruce Davis identified a pair of projects that have helped mitigate flooding in the city and earned the increased FEMA discount: restoration of Holbrook Channel Slope Failure at 2260 Holbrook Dr. and the Marsh Drive Bridge Seismic Retrofit.
Other projects not documented in the LHMP have been constructed or programmed as Capital Improvement projects, such as storm drain infrastructure improvements that should enable area policy holders to garner additional savings in the years to come.
Flood Hazard Area
According to data for 2021-’22, 1,436 Concord buildings are within FEMA’s Special Flood Hazard Area (SFHA). Only 141 of those buildings are covered by flood insurance, which is about 10%.
There were 267 total policies by occupancy during this period, and the insurance premiums were $250,658. The total value for insurance in force for these policies is $77,944,400, with the average coverage valued at $291,927.
When examined by flood zone, policies in force numbered 264 and premiums paid amounted to $250,019. Insurance in force totaled $77,194,400, and the average coverage was valued at $292,403.
The survey shows fewer policies than during the 2020-’21 period, when 151 buildings in the special district had flood insurance, or 10.5%. Based on policies by occupancy, policies totaled 293. When examined by insurance zone, there were 290 policies.
“Year to year, the number of policies tends to go down,” said Davis. “One main reason is when houses are paid off, flood insurance becomes optional and not required by the mortgage lender.”
The annual LHMP and the Repetitive Loss Properties Report are part of FEMA requirements for recertification. Both reports are available at www.cityofconcord.org.