Flood Insurance Rate Map is a Handy Guide
The National Flood Insurance Program, under the umbrella of the Federal Emergency Management Agency, creates a flood insurance rate map for each community in the program to assist with floodplain management and to designate flood insurance premium rates. Home owners may rely on the maps to assess their properties’ flood risk and to anticipate the cost of flood insurance coverage. The maps designate areas of low to moderate- and high-risk areas.
Where Can I Find a Flood Insurance Rate Map?
For access to the most accurate and timely flood insurance rate map, property owners should contact a flood certified insurance agent or inquire with their community’s floodplain manager, which is usually within the city or county planning, zoning or engineering office. Experts update the maps as conditions like geography, construction activities, flood mitigation efforts and weather events change, according to information from the National Flood Insurance Program. These factors may cause the flood zone designation for any property to change from time to time.
What Other Information is on a Flood Insurance Rate Map?
All flood insurance rate maps show topographical features in the area, like lakes, streams and other waterways, and elevations. The elevations component is important because it designates the base flood elevations and depths, which show areas with a 1 percent chance of flooding per year and a 26 percent chance of flooding in a 30-year period, according to FEMA. These areas are called Special Flood Hazard Areas.
Who Creates the Flood Insurance Rate Maps?
FEMA engineers consider historical, hydrologic and meteorological data, and they conduct engineering studies. They supply the results of their research to cartographers, who create the maps. The flood insurance rate maps are the most widely distributed of the NFIP maps, and they are available to insurance agents, community floodplain management offices, mortgage lenders and the general public. The maps are available in both printed and digital forms.
A flood insurance rate map is one tool you may use to assess your property’s flood risk and to effectively plan to minimize your financial risk. The professionals at William Avon Insurance Group can show you the appropriate flood insurance rate map for your area and provide detailed information about your risk.