Remapping flood zones in Hamilton County expected to impact insurance rates
Newly revised flood insurance rate maps for Hamilton County will be available next Monday during an open house event at that Development Resource Center from 4-7 P.M.
Federal Emergency Management Agency Spokesperson Mary Hudak told WDEF that new information based on science has led to flood zone revisions. Revisions are also based on new development or changes within flood plains.
"Maps have been updated to better reflect the flood risk that residents may have in Hamilton County. An individual who owns property should go there to determine whether or not they property they own remains in a flood zone, is now in a flood zone or has been removed out of a flood zone," Hudak said.
Hamilton County property owners are strongly encouraged to attend the open house to learn if rezoning means their property insurance rates will change.
"It is possible that your insurance rates could go down if your flood risk is not as high as it was previously on earlier maps," Hudak said.
But it’s also a chance that rates could go up if a property owner goes from being in a no or low risk area to an area with significant risk of flooding.
If rates will likely go up for some residents, they will have the opportunity at the open house to speak with local flood plain management officials and insurance experts about viable options.
"It’s really a one-stop shop to get a full range of information so they can be better informed about the maps that will be coming online," Hudak said.
Rezoning also impacts future construction projects because to obtain a building permit, one needs to first know if they are constructing in an area that is likely to suffer from flooding.
"These maps are more precise than the older maps so there going to give you a better idea of what your risk is. For individuals to be better prepared for any kind of a disaster, they needs to know what the risk is," Hudak said.
According to FEMA, many people don’t fully understand that flooding is one of the biggest threats to personal property in the US.
"Flooding is the number one hazard in this country. There are more floods than any other kind of natural disaster and more people impacted by floods who are not insured. So without knowing you have the opportunity to loose the things that you worked hard for; your property; damages to your home," Hudak said.
Home and business owners, renters, realtors, mortgage lenders, surveyors and insurance agents are encouraged to attend the open house. All who attend can meet with specialists to ask questions and learn more about flood risk and hazard mitigation within their communities. Residents may also visit their local community’s permitting and development office to view the maps in person, or call their local floodplain manager with questions about where their property is located on the preliminary flood maps.
By law, federally regulated or insured mortgage lenders require flood insurance on properties that are located in areas at high risk of flooding. Standard homeowners’, business owners’, and renters’ insurance policies typically don’t cover flood damage, so flood insurance is an important consideration for everyone. Flood insurance policies can be purchased from any state licensed property and casualty insurance agent Visit www.floodsmart.gov for more information about flood insurance and to locate a local agent.
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