How To Determine A Flood Zone
The Federal Emergency Management Agency (FEMA) is the recognized source for determining flood zones in the United States, and the effective date on a FEMA map should always be validated whenever you research an area and consider buying a property. Doing this is essential because, at times, some lenders may work with outdated maps and lack the most current data related to flood zones. The agency has created specific Flood Zone Designations, and they used their Flood Insurance Study to formulate them.
Americas Primary Flood Zone designations
Established by FEMA, designations in the "A" or "V" category call for mandatory flood insurance. Those with a "D" or "X" designation do not, but recommending flood insurance to buyers in those zones is considered to be standard risk management practice, and the cost is fairly inexpensive.
What you should know about flood insurance
As a rule a typical homeowners policy does not cover flood damage from a storm, and FEMA records show that, in a storm, 40% of the damage can occur in a so-called non-flood zone. The agency also reports that flash floods (which occur in every state) create 10- to 20-feet-high walls of water, and they are not restricted to coastal areas. They can also move boulders, uproot trees and destroy bridges in less than six hours because of their severity.
Fires are the most common type of natural disaster in America, and floods are a close second. Typically, over the course of a 30-year mortgage, a home is 26 times more likely to be damaged by a flood than a fire. Funded by the federal government, flood insurance is a wise investment, readily obtainable and relatively inexpensive. It is intended to cover property loss, structural and mechanical damage to your home, replacing carpeting, tile and other floor surfaces, and the expense involved in cleaning up debris from a flood.
The various causes of floods
Hurricanes and tropical storms bring high winds, drenching rain and flying debris, and when snow melts during a spring thaw, lakes, rivers and streams can overflow, often resulting in serious flooding. In certain parts of the country, levees and dams are meant to help protect residents from floods, but they sometimes fail in a severe storm and the consequences can be devastating.
What you can do to protect yourself from financial loss in a flood
For those whose property is not located in a designated flood zone and realize that storm damage is always a possibility, FEMA offers a specific type of flood insurance, known as Preferred Risk Premium, to cover real estate located in low-risk areas. If this option appeals to you, go to http://www.fema.gov for more information.
Americas Primary Flood Zone designations
Established by FEMA, designations in the "A" or "V" category call for mandatory flood insurance. Those with a "D" or "X" designation do not, but recommending flood insurance to buyers in those zones is considered to be standard risk management practice, and the cost is fairly inexpensive.
What you should know about flood insurance
As a rule a typical homeowners policy does not cover flood damage from a storm, and FEMA records show that, in a storm, 40% of the damage can occur in a so-called non-flood zone. The agency also reports that flash floods (which occur in every state) create 10- to 20-feet-high walls of water, and they are not restricted to coastal areas. They can also move boulders, uproot trees and destroy bridges in less than six hours because of their severity.
Fires are the most common type of natural disaster in America, and floods are a close second. Typically, over the course of a 30-year mortgage, a home is 26 times more likely to be damaged by a flood than a fire. Funded by the federal government, flood insurance is a wise investment, readily obtainable and relatively inexpensive. It is intended to cover property loss, structural and mechanical damage to your home, replacing carpeting, tile and other floor surfaces, and the expense involved in cleaning up debris from a flood.
The various causes of floods
Hurricanes and tropical storms bring high winds, drenching rain and flying debris, and when snow melts during a spring thaw, lakes, rivers and streams can overflow, often resulting in serious flooding. In certain parts of the country, levees and dams are meant to help protect residents from floods, but they sometimes fail in a severe storm and the consequences can be devastating.
What you can do to protect yourself from financial loss in a flood
For those whose property is not located in a designated flood zone and realize that storm damage is always a possibility, FEMA offers a specific type of flood insurance, known as Preferred Risk Premium, to cover real estate located in low-risk areas. If this option appeals to you, go to http://www.fema.gov for more information.
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