Map
online: tinyurl.com/vt-atlas
A new Digital
Flood Insurance Rate Map (DFIRM) will become in effect in Washington County on
March 19, 2013. This is an important time to review the map
to identify the risks to your home or structure and to understand your flood
insurance options and requirements.
Structures that will be identified as being in the Special Flood Hazard
Area for the first time may benefit by getting flood insurance now before the
new map goes into effect.
The
cost of flood insurance in high risk areas (Special Flood Hazard Areas mapped as
Zone A or Zone AE) currently costs around $1,400 per year for a $170,000
structure. Flood insurance in low or
moderate risk areas (Zone X, C, B) costs less.
Additionally, most structures in Zone X or C may be able to secure flood
insurance as a “Preferred Risk Policy” (PRP) for around $400.
Suggested
Actions:
1. This week - Is your home is in Zone A or AE on the new
DFIRM? (tinyurl.com/vt-atlas)
Is your home in Zone A or AE on the current FIRM? (www.msc.fema.gov)
2. By
early February - If your structure will be identified as being in a high risk
area (Zone A or AE) in March – but is not currently – then you may be able to
get a low cost PRP policy now and renew it (at least twice) before the
insurance premium is raised step-wise to the full actuarial cost.
3. If
your structure is in a Zone X (or Shaded Zone X) flood insurance may still be
important to protect the value of your structure from the impact of overland
flow or flooding-caused erosion.
4. Talk
to your homeowner’s insurance agent to secure flood insurance.
5. If
you have a flood insurance policy that is not at full actuarial rate – don’t
drop coverage!
6.
If
your structure is in a high flood risk area – identify options (such as
elevation) to reduce the risk of damage and the cost of flood insurance.
Flood Maps:
Vermont Natural
Resource Atlas tinyurl.com/vt-atlas now has the
Washington County DFIRM data available (find under Watershed Protection and Special
Flood Hazard Areas (Preliminary).
FEMA Map Service
Center www.msc.fema.gov has current and historic FIRM maps - look
under Product Catalog The current maps have a white background.
The municipal office has paper copies of the
current FIRM and digital copies of the upcoming DFIRM.
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Vermont Rivers
Program www.vtwaterquality.org
Watershed
Management Div. /Dept. of Environmental Conservation/Agency of Natural
Resources
Floodplain
and River Corridor Program Blog vtfpm.blogspot.com
Ned Swanberg ned.swanberg@state.vt.us 802.490.6160
If you send a
request to Ned, he can make a map of the area near your home showing a rough
version of the current “Q3” and new (3/19/13 DFIRM) mapped boundaries of the
Special Flood Hazard Area.
Links and Resources
Flood Insurance Rate Map (FIRM)
identifies Special Flood Hazard Areas labeled as Zone A, AE, AO, A 1- 30. The DFIRM is a new officially “digital”
version of a FIRM.
How to Make a FIRMette (how to make a
map of the current FIRM data).
Preferred Risk Policy (PRP) Flood insurance
option for low to moderate risk areas without a history of flood claims.
Elevation Certificate (EC) – is stamped by a surveyor or engineer
and documents the elevation of the lowest floor of a structure.
Letter of Map Amendment (LOMA) is completed
by a surveyor or engineer to describe the location of the structure (or an area
including the structure) relative to the mapped flood hazard. MT-EZ:
Application Form for Single Residential Lot or Structure Amendments to National
Flood Insurance Program Maps
Online LOMC tool: www.fema.gov/online-lomc
Cheaper Flood Insurance – Five Ways to Reduce
Premiums
– recommendations on reducing the impact of flooding on structures and their
contents.
Community Rating System (CRS) – A National
Flood Insurance Program initiative to discount
Pre-FIRM
designates structures that were built before
the community joined the National Flood Insurance Program. Pre-FIRM structures are rated as a group
against the risk to the group.
Summary
of Map Actions (SOMA) was sent to each municipality and identifies
how the new DFIRM will effect the recognized zone of a structure with a LOMA or
letter of map change.
Biggert-Waters Flood Insurance
Reform Act of 2012 –
made significant changes to the insurance component of the National Flood
Insurance Program (NFIP) with the intent of making the program financially
sound. This Act has begun a process of
changes to cause flood insurance rates to approach actuarial rates.
