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WHAT HAPPENS TO EXISTING FLOOD INSURANCE POLICIES IF THE FIRMS ARE REVISED IN THE FUTURE TO REFLECT NEW HIGHER BFES?

April 26, 2017existing firms flood future happens Insurance policies reflect revised

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WHAT HAPPENS TO EXISTING FLOOD INSURANCE POLICIES IF THE FIRMS ARE REVISED IN THE FUTURE TO REFLECT NEW HIGHER BFES?

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Existing policies can continue using the same zone and BFE on the FIRM that was in effect at the time the building was constructed, as long as it is to their advantage and the building was constructed in compliance with local floodplain management ordinances.