What is a special flood hazard area?
Special Flood Hazard Areas (SFHA) is defined as an area of land that could be inundated by a flood having a 1-percent chance of occurring in any given year. The 1-percent chance standard is a compromise between the need for building restrictions to minimize potential loss of life and economic benefits derived from floodplain development. Flood insurance is required within the SFHA for protection of Federal financial investments and assistance for acquisition or construction within the participating communities.
Related Questions
- What is a Special Flood Hazard Area, aND HOW DO I DETERMINE IF MY PROPERTY IS LOCATED IN THIS AREA ON THE FLOOD INSURANCE RATE MAPS?
- Can I buy flood insurance for my property if the property is not in a Special Flood Hazard Area (SFHA)?
- WHAT HAPPENS WHEN A PROPERTY IS PLACED IN A SPECIAL FLOOD HAZARD AREA (100-YEAR FLOODPLAIN)?
