What will happen if the new map shows my home in a low- or moderate-risk area rather than a high-risk area as shown on the previous flood hazard map?
When the zone designation for a residence or other insurable structure changes from a high-risk SFHA (Zone A or Zone E) to a moderate-risk Zone B or Zone X (shaded) or to a low-risk Zone C or Zone X (unshaded), the federally mandated requirement to purchase flood insurance no longer applies. However, the risk has only been reduced, not removed. FEMA still recommends the purchase of flood insurance. Upon adoption of the new map, you may be eligible to convert your existing Standard Flood Insurance Policy to a lower-cost Preferred Risk Policy (PRP). Through your insurance agent, it is simple to submit a PRP application and insured-signed conversion form to avoid any gaps in your flood coverage. PRP brochures are available for homeowners/renters and for business owners.
Related Questions
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