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Hugh Merkle Team - COMPASS RE

Avalon Earns 35% Discount On Flood Insurance

Posted May 19th 2020

In early 2020, the Borough of Avalon announced that it became the second town in New Jersey to receive a Class 3 rating from the Federal Emergency Management Agency’s Community Rating System. Avalon went from a Class 5 to a 3 CRS rating, which gives the town a 35 percent discount on flood insurance rates. At the April 23 Borough Council meeting, Borough Administrator Scott Wahl announced that discounts on premiums would begin May 1.
“Avalon is proud to be in a very select community with our Class 3 rating in the CRS program,” said Mayor Martin Pagliughi. “Earning a 35 percent discount on flood insurance premiums does not happen by accident. Resiliency is not a now-and-then effort, it’s a daily effort, and the Borough continues to seek strategies and partnerships to further project our community during catastrophic weather events.”
The CRS evaluates a municipality’s flood mitigation practices on a 10-point scale, and adjusts its flood insurance rates accordingly. The lower the rating, the larger the discount. Avalon joins Sea Isle City as the only towns in the state to achieve the Class 3 rating, saving residents a total of $1.6 million in insurance premiums for 2020.

The Hugh Merkle Team - COMPASS Office: 609-368-9100
374 96th Street, Stone Harbor
info@HughMerkle.com
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