New flood maps become effective on May 20, 2010.
The new flood insurance rate maps show locations of the 1 percent and 0.2 percent floodplains and floodways, which indicate possible flooding risks for residences and businesses. Property owners need to know that this could mean a change in their floodplain status.
“We encourage residents to look at the flood maps now and to be familiar with flood risks in the community,” said Tony Russell, FEMA regional administrator.
While many people are required by mortgage and lending companies to have flood insurance, FEMA and the National Flood Insurance Program (NFIP) strongly recommend that all area residents have flood insurance.
In addition, current policy holders and those planning to purchase NFIP protection are strongly encouraged to contact their insurance agent or company to ensure that they have adequate coverage and that policies account for new flood risk data. Homeowners who purchase flood insurance prior to May 20, 2010, may be able to grandfather the current flood zone designation saving money on flood insurance. More information on flood insurance is available at www.floodsmart.gov.