What is Discontinued Under Risk Rating 2.0

Grandfathering - Grandfathering is discontinued under Risk Rating 2.0 because the Base Flood Elevations and Special Flood Hazard Area boundaries on FEMA's FIRMs are no longer used to calculate the flood insurance premiums. However, grandfathered policies existing prior to October 1, 2021, will be on a transitional path (18% annual increases) to their full risk (actuarial) rate.

Preferred Risk Policies (PRPs) - PRPs are applied to structures located outside the Special Flood Hazard areas mapped on FEMA's FIRMs, and have no history of flood damage claims. PRPs are discontinued under Risk Rating 2.0. However, under Risk Rating 2.0, these structures are now eligible for CRS discounts, and new discounts for:

  • elevating their machinery and equipment (such as water heaters, furnaces, air conditioning units) above the first floor of their structure;
  • installing flood vents in their enclosures beneath the first floor of their structure; and
  • implementing dry floodproofing measures (non-residential structures only in unincorporated Los Angeles County).