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FEMA approves Community Rating System Discounts for the City of Galveston effective 5/1/14!

Many Flood insurance policies for properties located in the City of Galveston will soon be able to receive Community Rating System (CRS) premium discounts.  For policies that are in effect prior to 5/1/14, that credit will automatically be reflected on the next renewal that comes after May 1.  For new policies effective 5/1/14 or later, the credit  will be effective immediately and is automatically applied.  A 15% discount will apply to eligible properties in a Special Flood Hazard Area (A Zones & V Zones) and eligible properties located in non-Special Flood Hazard Areas (B, C, X Zones) will receive a 5% discount.

Pre-FIRM buildings in all Flood Zones and Post-FIRM buildings in Zones B,C,X, D, A99, AR and AR Dual Zones will be eligible for the discounts; however, many Post-FIRM properties will not.
The following are not eligible for CRS premium discounts:

  • Preferred Risk Policies
  • Mortgage Portfolio Protection Program policies
  • Group Flood Insurance policies
  • Post-FIRM buildings located in a Special Flood Hazard Area (SFHA) where the elevation difference used for rating is at least 1 foot or more below the Base Flood Elevation (BFE), with the following exceptions:
    • Post-FIRM V-Zone buildings with unfinished breakaway wall enclosures and machinery or equipment at or above the BFE; and
    • Subgrade crawlspaces with certification from a community official. The subgrade crawlspace exception must be certified by a community official letter.

Community Involvement

Since our founding, GIA has always believed in playing a positive role in its community. The GIA family, which includes its employees and other volunteers, is at the backbone of its civic efforts. Our employees and volunteers devote time and talent to many different civic causes. This spirit of volunteerism carries on a legacy that comes directly from the heart of GIA.

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