Save Thousands Instantly With Hidden NFIP Insurance Strategies
Community Rating System (CRS) Discounts
Participating in the NFIP's Community Rating System (CRS) can also lead to substantial savings. The CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements. Communities that participate in the CRS can offer their residents discounted flood insurance premiums. Discounts can range from 5% to 45%, depending on the community's level of engagement in floodplain management practices2. To see these options, check if your community participates in the CRS and what level of discount they offer.
Policy Bundling and Deductible Adjustments
Another strategy to reduce your NFIP insurance costs is to bundle your flood insurance with other types of insurance policies, such as homeowners or auto insurance. Many insurers offer discounts for bundling, which can lead to significant savings. Additionally, adjusting your deductible can impact your premium. While a higher deductible means a lower premium, it's essential to ensure that you can afford the out-of-pocket expense in the event of a claim3.