Remapping of Floodplains Surprises Some Owners
The Federal Emergency Management Agency has been remapping America’s aging floodplains for the last eight years, taking into account changes along waterways brought by development, storm patterns, and natural processes.
While FEMA is only about two-thirds of the way through the project nationwide, some home owners are already finding out that their property’s boundaries are now being designated as flood zones. The redrawn floodplains are leading some home owners to have to buy costly flood insurance, which can equate to hundreds or even thousands of dollars annually.
Home owner Amy Marren says she was surprised when she recently received notice from her lender that she needed flood insurance for her home in Wayne, Pa. She now has to pay a $2,400 annual policy, after an insurance agent told her the house was zoned like it were a “beach house.”
“It’s an emotional issue,” says David Bollinger, a hazard-mitigation specialist in FEMA’s Philadelphia region. “People are upset with us at times.”
To find flood maps and other information from FEMA, visit www.fema.gov.
Source: “Remapping of Floodplains Costly for Some Homeowners,” The Philadelphia Inquirer (Feb. 6, 2011)
I previously lived in the Philadelphia region (West Chester) for 22 years growing up. My parents have flood on their home in WC and live on a hill. With these new maps, our neighbors may have to pay higher insurance because of where they end up elevation wise to a very small creek at the bottom of our development. I currently live in the highest part of the beaches in Clearwater/St. Pete, about 55 feet above sea level. So my flood insurance is $395/year. There are homeowners paying several thousand for living on the water/beach.
I am disturbed how landlocked areas are being raked over the coals especially in landlocked states! Unfortunately FEMA is the only insurer of flood policies. A complete monopoly. Even more disturbing.
To obtain a flood policy, they verify your location on a map and need an elevation certificate. The cost of paying someone to survey your home for elevation can cost several hundred dollars. Speak to your insurance agent about money saving techniques on your insurance but don’t skip on the coverage! If you would like to save hundreds on homeowners and flood or would like to request a quote, I can refer you to a local agent I work with and trust who has saved my clients hundreds of dollars, and sometimes thousands of dollars with new policies or mitigation programs that add bonus points in lowering your costs.
Rebecca Paone
Keller Williams Gulfside Realty
727-216-9253
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