Flooding and Flood Insurance
Since this is a website all about water damage, I really need to talk about flooding. What really is Flooding? Floods are the most common natural disaster in the U.S.. A flood is defined as a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Flooding doesn’t just occur in coastal regions or in towns along river banks. If it rains where you live, it can flood where you live. Many familiar conditions result in flooding: hurricanes, rapid snow melt, levees that break, clogged drainage systems and accumulations of rainfall (think rapid downpour).
You may have lived in your neighborhood for 10 years without experiencing a flood but this does not mean that you are safe from flooding in the future. Just two years ago, I underwent a so-called “100 year event” at my house where in a matter of 30 minutes 1800 square feet of my house were flooded from storm-drain water that had backed up due to torrential rain. I live in a part of the country where it rains 8 months out of the year and for years I had never encountered any problems.
Flood risk is calculated based on a number of factors such as rainfall, river-flow and tidal-surge data, local flood-control measures, topography, building and development changes.
Flood-hazard maps have been created to show different degrees of risk for your community, which help determine the cost of flood insurance. The lower the degree of risk, the lower the flood insurance premium.
Understanding Flood Areas
Although flooding can happen anywhere, there are certain parts of the country that are especially prone to flooding. FIRMS or Flood Insurance Rate Maps were created to help people see the locations of high, moderate to low, and undetermined risk areas. These are not only really useful to understand your risk but these maps that greatly decide how much you as a homeowner will pay for flood insurance. They also decided whether or not you are required to purchase flood insurance (High-risk). Here are some definitions for the types of risk:
High-risk areas
(Special Flood Hazard Area or SFHA)
High-risk areas require at least a 1% annual chance of flooding. During the
course of a 30-year mortgage this equates to a 26% chance of flooding. Not
surprisingly, all homeowners in areas with mortgages from federally regulated or
insured lenders are required to buy flood insurance. They are shown on the flood
maps as zones labeled with the letters A or V.
Moderate-to-low risk areas
(Non-Special Flood Hazard Area or NSFHA)
In moderate-to-low risk areas, the risk of being flooded is reduced, but not
completely removed. These areas are outside the 1% annual flood-risk floodplain
areas, so flood insurance isn’t required, but it is recommended for all property
owners and renters. They are shown on flood maps as zones labeled with the
letters B, C or X (or a shaded X).
Undetermined-risk areas
On flood maps, areas labeled with the letter D indicate that no flood-hazard
analysis has been conducted. You should not take this to mean that no flood
risk exists. In fact, a flood risk may well exist. Flood insurance rates
reflect the uncertainty of the flood risk.
Like Nature, flood risk changes over time. Factors such as changing weather patterns, erosion, aging infrastructure, and new development can affect floodplain boundaries. FEMA is charged with updating and modernizing the nation’s Flood Insurance Rate Maps (FIRMS).
Next: Flood Insurance and Flood Costs
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