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Citizens group warns of expanded flood zone – skyrocketing flood insurance rates

By on Jul 24, 2013 in Uncategorized |

July 23, 2013 Marshfield Citizen’s Coastal Coalition getting out the word that changes in the Federal Emergency Management Agency (FEMA) flood maps could impact everyone in current flood zones that carry flood insurance and even those that don’t – but who could now be included in the new expanded flood zone maps. Coalition chair Joe Rossi said, “There are major changes coming to the FEMA flood maps and FEMA flood insurance that will impact every single person in the flood zone that has flood insurance, or that’s not in a flood zone that may now be in one. So anyone and everyone could and will be affected by this”. And coalition member Doris Crary warns that those required to carry flood insurance could wind up paying hefty insurance rate increases – some, upwards of 25% more. “Increases on the low side could be $1,000 a year and if you happen to have a house, that for some reason is an extreme anomaly, we’ve heard some horror stories that people were appraised at the $50,000 range for their flood insurance premium.” The new FEMA policy is scheduled to go into effect in...

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New Flood Maps in Massachusetts

By on Jul 17, 2013 in Uncategorized |

New Flood Insurance Rate Maps for Hampden County become effective on July 16, 2013 Massachusetts USA – The Federal Emergency Management Agency (FEMA) has been working with county and municipal governments over the last several years to incorporate the best available data into new flood maps. These updated maps are more precise than older maps because better flood hazard and risk data has been incorporated, and the latest science has been used to make them more accurate. Flood risks change over time due to construction, development, environmental changes, floodplain widening or shifting, and other factors. These changes send water flowing in new directions, creating flood risks that didn’t exist previously—precisely why flood maps must be updated periodically. By law, federally regulated or insured mortgage lenders require flood insurance on properties that are located in areas at high risk of flooding. Even people living in lower risk areas can experience flooding, which is the most common and costly natural disaster in the U.S. In fact, about 25 percent of flood insurance claims occur in lower risk flood zones. Regardless of flood zone, everyone should take steps to financially protect themselves from a flood disaster which affects far too many communities each year. The primary way to do this is by purchasing flood insurance. Since standard homeowner’s, business owner’s, and renter’s insurance doesn’t cover flood damage, flood insurance is an important consideration for everyone. Second Look Flood, an experienced Flood Determination Company, offers the newest FEMA maps and tools to help homebuyers and homeowners more accurately determine their flood risk. Second Look Flood goes far beyond traditional automated mapping programs of banks, lenders and insurance companies, which only approximate a property’s location. Flood insurance is available through the National Flood Insurance Program, a voluntary program administered by the FEMA. You can purchase flood insurance policies from state-licensed property and casualty insurance agents who you deal with for other property insurance needs, or visit www.floodsmart.gov to locate an agent. New flood maps and preliminary data provides the public an early look at their home or community’s flood risk. “FEMA is in the process of updating Flood Maps in every state,” says Bryan Baumann, senior mapping analyst. “Each year, thousands of homeowners that...

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