Newport Beach Residents Eligible For Lower Flood Insurance Premiums

NEWPORT BEACH, CA — Amid the surge of powerful winter weather experienced across the Southland, Newport Beach homes and business owners will soon be eligible for reductions in their flood insurance premiums, the city said Friday.

The new reductions come after Newport Beach was awarded a Class 7 rating in the Insurance Services Office's — alternatively known as the ISO — Community Rating System, an improvement the city's previous Class 6 rating.

Because of the improvement, all flood insurance policyholders in the city are eligible for an extra five percent reduction in insurance premiums.

"This achievement is a testament to Newport Beach's ongoing efforts to mitigate flood risk and create a more sustainable, resilient community," City Manager Grace Leung told Patch.

According to Leung, the Community Rating System is an incentive program operated by the ISO that recognizes and encourages community flood plan management practices that exceed the minimum requirements of the National Flood Insurance Program.

"By implementing measures that go above and beyond the baseline standards, communities like Newport Beach are better prepared for flood events and can qualify for lower flood insurance rates," Leung said.

The reduction in flood insurance premiums, Leung said, will take effect later this year.