The maps the feds use to set flood insurance rates are changing.
That means some homeowners could see their premiums go up, while others may catch a break.
The big takeaway is everybody should have flood insurance.
Your homeowner’s policy won’t pay for repairs if a storm floods your house.
While people live in Florida and move here for the fine, fine weather, we all know it can get nasty.
A tropical storm or hurricane can turn your home into a swamp.
On Thursday evening, Kathy and Bill Bender went to an open house in Seminole, put on by FEMA to find out some important information.
“If we were in a different flood zone from our previous flood zone,” said Kathy.
New, proposed “flood insurance rate maps” are out and that’s important to property owners.
“The lower the risk, the better the price on the flood insurance,” said Pinellas County flood plain coordinator Lisa Foster.
An online tool lets homeowners compare the old flood maps to new ones.
For some, the news is good. They’ll go from high risk, to moderate, or low.
Of course, it can go the other way too.
The key is to buy a policy now before the maps are adopted, to save money.
You could elevate your house. Some people do that.
“There are things you can do. Elevate your A/C unit. Elevate your hot water heater just to reduce the cost of flooding,” said Foster.
But even people in low risk zones aren’t in the clear.
“As we saw in Florence, we saw in Houston, water doesn’t read the maps. Water is gonna go everywhere. It possibly could flood,” said Mark Viera from FEMA.
As for the Benders?
“I think we’re good. Thankfully. And our neighborhood is good too. Which is really important,” said Kathy.
If you buy a federal flood policy before the new maps kick in, you’ll lock in a lower rate. Your premium will rise, but it will be gradual.
Click here for more details on the changing maps.
