A flood zone determination by address is one of the ways insurance companies and the NFIP calculate the cost of flood insurance for their client. Those who live in low-risk areas will pay less than those in higher risk. Renters will also pay less as they are only required to purchase content insurance.
In certain instances, flood insurance is only a recommendation. It's mandatory for those looking to buy a home or property in a high-risk flood zone. Mortgage companies will only give a loan with proof of flood insurance. Regardless of the flood risk for your area, it's a good idea to purchase flood insurance because, without it, you could be spending thousands of dollars on repairs. While you have flood coverage with your regular insurance, it only covers accidental flooding caused by a burst pipe or leaking appliance.
The flood zone determination by address will not only help with flood insurance costs. But it will also help families choose where they want to live. You can find the addresses mapped on the flood zone map. FEMA creates these maps with the help of communities. If there has been a change in flood risk for that area, FEMA will update the map. Communities must work with FEMA to provide accurate flood information.
For more information on flood zone determination by address, visit our website or give us a call at (540)809-1415. We will answer any questions you may have. Contact Holt Flood Insurance today.