“I am not in a flood zone”. This statement is flatly FALSE! Here is the truth.
Everyone’s home, building, etc. is in a flood zone! That is a fact. The truth is that there are different zones as to the risk of flood……one on a mountain the other by the ocean, is a good way to understand.
The high risk zones are called Special Flood Hazard Zones (SFHZ). These are the zones that begin with a V (velocity) or an A. A home in one of these zones is required, if a mortgage exists, by Federal Law because of the high risk of flooding to carry flood insurance. This then is what has lead to the misconception of “I am not in a flood zone”, meaning I am not required to carry flood insurance.
But WAIT: About one third of all flood losses are outside the high risk zones. That is why when a person is flooded in one of these lower risk zones there is so much surprise and I might add heartbreak.
THE GOOD NEW IS: You can purchase a Preferred Risk Flood Policy (PRP) and get protection at a very low price. This makes it hardly worth the risk of going without this important protection.
Stay tuned for MORE on FLOOD INSURANCE as we approach the prime hurricane season.