Check out the Cost of Flood Proofing Your Home. Of course, there are ways to flood proof your home against hurricanes and other natural disasters. Like we said, Mother Nature loves surprises. Naturally, none of those residents had flood insurance as they were far beyond the 100 Year BFE. Remember Hurricane Harvey, where Houston and its surrounding areas were underwater? Yeah, those weren’t in a high-hazard Flood Zone. Some undesignated areas are still at risk for flooding. While the residents and city knew they were in a Flood Zone and had taken the safety measures to protect themselves, most people didn’t have flood insurance. Bernard Parish still flooded, causing massive damage. That region had several levees and flood walls in place and yet, 80% of New Orleans and the St. Unless you’ve been living under a rock, you probably remember Hurricane Katrina. Even in regions where every precaution has been taken to protect against flooding, floods still happen. Of course, floods are unpredictable and no area is 100% safe. Since flooding is possible, flood insurance is highly recommended, but not mandatory.įind out if you live in a Flood Zone here. These areas have not been studied for flood risk, so it’s a gamble. Properties in this zone have a potential for flooding as they are typically near water such as a lake, river, stream or wetland. These are the most hazardous zones, typically first-row, beach-front property. According to them, there are Four Flood Zones: The Four Flood ZonesįEMA conducts flood hazard analysis throughout the U.S., mapping the results for flood insurance purposes. But your odds are better than most for your home staying dry during your lifetime at least. Since Mother Nature loves to surprise us, we can’t say it’s a guarantee. Meaning a flood hasn’t occurred in that area or elevation in at least 100 years. This refers to the elevation associated with a 1% chance of a flood occurring. What’s the 100 Year Base Flood Elevation? NOTE: All new construction requires both the land and the home be raised above the 100 year BFE. Follow these steps to move your property from the flood zone. To opt out of flood insurance, you have to move your property from the Flood Zone BEFORE you build. But don’t wait until you’re picking out curtains on your newly built home. To do this, you need a document from the Federal Emergency Management Agency. If you can prove your property is above the 100 year Base Flood Elevation (BFE), then the bank or lender may waive the required flood insurance. law demands all banks and lenders require flood insurance if the property they’re lending to is in a Flood Zone. Think you can get away with not purchasing that costly flood insurance? Think again. With flood insurance, you can choose to cover just the building, the contents of the building or both. The price will vary depending on what you’re hoping to cover. The average flood insurance policy costs $700 per year. Here is Everything You Need to Know About Building in a Flood Zone: Insurance While it may be too late for some of them, it’s not too late for you. Yet, 41 million Americans live in Flood Zones. Between property damage, financial ruin and possible loss of life, nothing destroys lives faster than a natural disaster. In a Flood Zone, you and your dream home are sitting ducks for whatever Mother Nature has in store. Building in a Flood Zone is not for the faint of heart.
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