FLOOD ZONE MAP REVISIONS
I took some time today to look into the proposed revisions to the FEMA FIRM maps. These maps are used to determine what the probability of flooding is in a certain location and thus used determine flood risk and flood insurance pricing. The current flood maps may be found by entering your location at the following page…
https://msc.fema.gov/webapp/wcs/stores/servlet/FemaWelcomeView?storeId=10001&catalogId=10001&langId=-1
I did this for my personal residence and I know, it’s in a flood zone B. However ‘they’ are in the process of revising these maps as well as removing the subsidies for flood insurance issued un the National Flood Insurance Program or NFP. To locate your proposed flood insurance zone you may look at the panel locater for Palm BeachCounty…
12099CIND1A
Then go to the following web site and open the corresponding map…
https://hazards.fema.gov/femaportal/prelimdownload/searchLoad.action
Now compare the two maps. As for my residence I am still in a Zone 2. HOWEVER, just one road away from me is now a Zone AE.
The map for Jupiter Farms has not yet been published but there is a note indicating that this will remain a Zone B.
The area of Palm Beach Country Estates in an AO zone looks to have increased.
And some minimal changes along the coastal Jupiter, Juno Beach, North Palm Beach and Palm Beach Gardens.
Why is this important? Flood insurance is a requirement of conforming (Fannie Mae, Freddie Mac) loans, and most others, if the insured improvements (the buildings) on the property are in a Special Flood Hazard Area (a zone beginning with the letters “A” or “V”). If, however, the Elevation Certificate prepared by a licensed surveyor states that your property is in Zone B, C, or X (not in an SFHA) then generally speaking flood insurance is not required by the lender. It is possible to have a property in a zone A or V but the house is in Zone B, C or X. These would be the houses on stilts in the keys.
By Chris Ryder
