At the instruction of Congress, the Federal Emergency Management Agency (FEMA) was given the task of modernizing and updating the Nation's flood hazard identification maps and revalidating all floodplain areas and flood risk zones. Congress has directed FEMA to do this at least once every five years. Flood maps are an essential tool for mitigating flood risk. The maps are used to determine premium rates for the National Flood Insurance Program and they are used by lenders to determine who will be required to purchase flood insurance. In 2002, 70 percent of the Nation’s flood maps were over ten years old. To accomplish this task, FEMA began converting paper flood insurance rate maps to Digital Flood Insurance Rate Maps (DFIRM). DFIRMs are more accurate and easier to update. FEMA’s Map Modernization Program of 2003 to 2008 resulted in new or revised flood maps for 92 percent of the continental U.S. population.
On July 16, 2010, FEMA sent Collier County and the cities of Naples, Marco Island, and Everglades City an updated preliminary DFIRM. This preliminary DFIRM is a draft of what, if approved, will be Collier County’s new flood zone determination maps. If approved, this new DFIRM will redefine who in Collier County lives in what flood zone, who will be required to purchase flood insurance, and it will establish flood elevations that are the basis the National Flood Insurance rates. Many areas of Collier County that previously were not considered to be in a flood zone are now considered to be in a high risk zone. If you live in an area that has been remapped to a high risk flood zone and you have a federally backed mortgage you will now be required by your lender to purchase flood insurance.
Staff from Collier County and the cities of Naples, Marco Island, and Everglades City are now reviewing the preliminary DFIRMs for accuracy. A series of public informational meetings have been scheduled for the month of August 2010 to give property owners the opportunity to view the DFIRMs, to learn about the proposed schedule for making the DFIRMs effective for building permits and flood insurance, and to learn more about the steps they will need to take to comply with the federal flood insurance requirements. Shortly after the public meetings, FEMA will publish two notices in the local newspaper which will start the official 90 day time period for owners to file any complaints, protests, or appeals. Following this, there will be a period of time to resolve comments, protests, or appeals before FEMA finalizes the DFIRMs to make them effective.
Call us today and we will determine your new flood zone and give you a free flood insurance quote!
When the new DFIRM becomes effective:
You will be required to purchase flood insurance if:
You have a mortgage and
Your home is located in a flood zone that starts with the letter “A” or “V”
You should purchase flood insurance if:
You have a mortgage and
Your home is located in a flood zone that starts with the letter “X”
or
You don’t have a mortgage and
Your home is located in a flood zone starting with the letter “A”, “V”, or “X”
Why? Because, if you live in Florida, especially in Southwest Florida, you live in a flood zone!
You don’t need to live near water to be flooded. Floods can be caused by storms, hurricanes, water backup due to inadequate or overloaded drainage systems, and broken water mains. The only real question is whether you live in a low to moderate or a high risk area.
If you live in a high risk area and you have a federally backed mortgage your lender will require you carry flood insurance. But even if you aren't in a high risk area for flood you should know that 25% of all flood insurance claims occur in low to moderate risk areas where flood insurance is not required by a lender. The good news is that the premium for a flood insurance policy, outside of high risk areas, start as low as $119 per year for homeowners, $39 per year for renters, and $145 per year for businesses who lease their space.
Another common misconception is that your homeowners policy will cover you in the event of a flood. Most homeowners insurance policy’s do not cover damage due to floods. Only flood insurance financially protects your personal property from floods. Floods can occur almost anywhere at anytime and just inches of water can cause thousands of dollars in damage. Flash floods, inland flooding, and seasonal storms bring flooding to every region of the country. Flood insurance covers losses to your property from structural and mechanical damage, debris clean-up, and clean-up of floor surfaces (like carpet and tile). Your investment in your home is protected by a flood insurance policy, for damages that your homeowners policy does not cover.
Having flood insurance gives you many benefits. Not only is coverage there when you need it, but it also:
- Compensates you for all flood related losses.
- Compensates for flood damages, even if federal disaster aid is unavailable.
- Pays for your covered losses, unlike interest-bearing loans through federal disaster assistance which must be paid back.
- Comes in low-cost policies for those who qualify.
- Guarantees compensation for flood damages because the Federal government backs NFIP flood insurance.
- Helps you move on – if your property is damaged by flood, we as your agent are there to help you handle your claim (note: most claims are paid within 30 to 60 days)
If you should have any questions regarding flood Insurance, if you would like us to determine your flood zone, or if we can assist you with a quote, please feel free to contact our office. Remember, once purchased there is a 30 day waiting period for your flood policy to become effective, so don't wait to buy it!
Telephone: (239) 596-6226 
Fax: (239) 596-1620
