Carpentersville saves 20% in flood insurance premiums
The owners of 39 Carpentersville properties with flood insurance can look forward to a little bit of extra Christmas money.
Thanks to the Carpentersville Engineering Department, those owners have realized a 20-percent discount that went into effect Oct. 1 on their flood insurance premiums.
The village recently completed a recertification program through FEMA and the Illinois Department of Natural Resources called the Community Rating System, in which village officials show proof that their permitting, documentation and floodplain projections exceed the National Flood Insurance Program’s minimum guidelines.
The program is meant to to recognize and encourage those sorts of community floodplain management activities. According to its website, the program’s goals are to reduce flood losses, promote awareness of flood insurance and facilitate an accurate insurance rating.
Carpentersville became a Class 6 community this year, which means a 20-percent discount for residents carrying flood insurance. The total premium among the property owners was $46,000 and they are now expected to save a total of $9,200.
The highest rating any community can achieve is a Class 1, which offers a 45-percent discount on premiums. The lowest is Class 9, which offers a discount of 5 percent.
The last time Carpentersville went through the process in 2005, it received a Class 8 rating that was effective May 1, 2006. That gave residents a 10-percent discount that lasted until the village completed the most recent recertification process.
“This was a program that was actually started by the previous village engineer — When I came on board in 2005, we continued doing this annually,” Village Engineer Scott Marquardt said. “It’s showing that we’re properly managing flood plains and ... it’s just an example of another service that the village provides for the benefit of its residents.”
The properties lie along the Fox River, Carpenter Creek and Four Winds Way Creek.
The Class 6 rating holds until Carpentersville goes through the recertification process again next year.