An Introduction to FEMA Flood Map Updates and How it Affects You

Transcription

1 An Introduction to FEMA Flood Map Updates and How it Affects You Presented by Michael Baker Jr., Inc. on behalf of the City of Reno

2 Agenda Session 1 5:30-6:00 FEMA Flood Map Changes Program Slide Show 6:00-7:00 Open House-visit the tables for your specific questions Session 2 7:00-7:30 FEMA Flood Map Changes Program Slide Show 7:30-8:30 Open House-visit the tables for your specific questions Please use note sheets provided and bring your questions to the Open House.

3 What is a Flood Map (Flood Insurance Rate Map - FIRM)? Flood maps are used to determine potential flood risk for the rating of flood insurance through the National Flood Insurance Program (NFIP) Example of a paper flood map

4 What is Happening to Flood Maps in the City of Reno? Flood Insurance Rate Maps (FIRM) are being updated digitally (dfirm) Paper flood maps (FIRM) are being converted to digital format for ease of updating and accessibility The updated maps are intended to provide communities and citizens with more accessible and up to date flood maps.

5 National Flood Insurance Program (NFIP) Established in 1968 by Congress (administered as a part of FEMA) Membership in NFIP means: City of Reno has responsibilities under program eligible for federal disaster funds when disaster area is declared flood insurance is available to all residents in Reno, typically at reasonable rates

6 Flood Risk Zones Low-to-Moderate Risk Zones include Zone X and others. High-Risk Zones include Zone A and others. Homes in High-Risk Zones have at least a 26% chance of flooding over the life of a 30-year mortgage.

7 How are Flood Risk Zones Determined? The flood risk zones are based on studies of flood risk and are identified on flood hazard maps Studies include hydrology and hydraulic analyses based on: statistical data for river flow, rainfall, topographic surveys, soils and land use conditions, and other technical information.

8 Changes to Flood Risk Zones FEMA has updated the City of Reno s flood zones on the flood maps Specifically, some South Meadows parcels have been re-mapped from a Low-to-Moderate Risk Zone to a High-Risk Zone (from a Zone X to a Zone A)

9 What Happened? 1. Historically this area was in a flood zone. 2. The City of Reno required the builders to remove the area from the flood zone prior to development, in compliance with local ordinances and National Flood Insurance Program requirements as administered by FEMA.

10 What Happened? 3. The builders constructed physical improvements to the area, to remove it from the flood zone. 4. FEMA critically reviewed and accepted the documentation of the improvements, provided by the builders, and re-mapped the area as not being in a flood zone.

11 What Happened? 5. FEMA began taking a more critical and stringent look at risks associated with levees and levee-like structures during a nationwide review of flood maps. 6. This lead to the re-mapping of these South Meadows parcels to High-Risk Zones.

12 Why is My Property Being Put in a Flood Zone Now? Nationwide, FEMA has reconsidered all levee and levee-like structures shown on flood maps as providing flood protection from the 1-percent annual chance flood many have been determined to not meet certification requirements.

13 What Levee? FEMA has determined this levee-like structure does not meet all critical FEMA levee engineering requirements, including: Structural stability Freeboard a minimum of 3 ft Operation and Maintenance Plan

14 Parcels Affected by Flood Map Change

15 Flood Risk Zones and Insurance If your property is being re-mapped from a Zone X into a Zone A: If there is a mortgage on the property, flood insurance is typically required

16 Flood Risk Zones and Insurance Grandfathering offers savings Insurance costs may rise for some to reflect heightened risk However, property owners may be able to save money by purchasing insurance prior to final map adoption on March 16, 2009

17 How Much Does Flood Insurance Cost? The maximum coverage available for single family residential buildings is $250,000 for the building and $100,000 for contents, with $500 deductibles, each. Important: Your individual situation may differ from the conditions used for this estimate. A flood insurance agent can provide you with an accurate quote for your specific property and contents.

18 How Much Does Flood Insurance Cost? Using the maximum available coverage for single family residential buildings, approximate insurance costs are: Preferred Risk - $ Standard Low-to-Moderate Risk - *$ $1, Standard High Risk - *$1, $2, * Building coverage only, no contents coverage

19 Preferred Risk Preferred Risk - $ Preferred Risk policies are available for most properties in low to moderate flood risk zones, like Zone X, when there are no previous flood insurance claims on the subject property. All Preferred Risk policies include contents coverage.

20 Standard Low-to-Moderate Risk Standard Low-to-Moderate Risk - *$ $1, Policies available for properties located in low to moderate flood risk zones, like Zone X. If you received a letter in the mail from the City, your property has been remapped into a Zone A. Policies may be available for properties located in high risk zones, like Zone A, through grandfathering. * Building coverage only, no contents coverage

21 Standard High Risk Standard High Risk - *$1, $2, Standard High Risk policies are available for properties located in high flood risk zones, like Zone A, built prior to the effective FIRM. * Building coverage only, no contents coverage

22 Example of Insurance Scenario Year 1 - Rate will be Preferred Risk ($348.00) or Standard Low-to-Moderate (*$849.00) Policy must be purchased prior to March 16, 2009 effective date on new map for Preferred Risk Rate to apply Year 2 and beyond - Rate will be Standard Low-to-Moderate (*$849.00) This is Grandfathering - property is in a Zone A but is getting a Zone X rate - Grandfathering is transferable * Building coverage only, no contents coverage

23 Where Can You Purchase Flood Insurance? Flood insurance costs are the same wherever you purchase it since the rates are set by NFIP Contact your homeowners insurance policy agent to discuss your flood insurance needs or to locate an agent, go to:

24 What Has the City of Reno Done in Response to These Flood Map Changes? The City of Reno has invested resources in review of FEMA s preliminary mapping effort This effort has lead to a reduction in affected homes and businesses from ~ 1,200 to ~ 250 The City of Reno will continue to work with local partners and FEMA if efforts are undertaken by others, to further reduce the number of affected parcels

25 Thank You Please Proceed to Open House for Questions and Answers References: FEMA flood website, 2008: National Flood Insurance Program, 2008: Hillsborough County Flood Map Modernization, October 2005 Disclaimer: The City of Reno, FEMA, and Michael Baker Jr., Inc. do not endorse any insurance companies, agents, or brokers. The information included in this presentation is not intended to provide determination of risk or flood insurance rates for any area.