Buying flood insurance in Huntsville Alabama can sometimes feel like the stock market. Prices are way higher than they were 6 months ago or they are way lower.

So today we want to look at when is the best time to buy flood insurance during a flood map change in Huntsville Alabama?

The simple answer is before the map changes. However there are alot of moving parts we want to look at when comes to flood insurance map changes.


Flood insurance rate maps are always changing. This happens when a flood insurance study report has been done and the community agrees with FEMA on a new flood map.

So what happens when this takes place in Huntsville Alabama?

There can be the good, bad, and ugly.

Good

Let's look at the good first. When the last flood map update was done certain properties in the Huntsville Alabama area had been removed from the special flood hazard area.

One particular area this occurred was Owen Cross Roads and Madison Alabama. This means if these properties carried a mortgage flood insurance would no longer be required.

Bad

Now let's look at the bad on the flood insurance rate map updates. Many properties are moved from a minimal flood zone to the special flood hazard area.

What is the minimal flood zone or flood zone x in Huntsville Alabama?

 

This means if there is a mortgage on the property flood insurance would now be required.

The good news is FEMA provides special flood rates on these properties the first year. These are called newly mapped rates. The video below gives a good explanation of what this means.

 

Ugly

Now let's look at the ugly when it comes to these flood map updates in Huntsville Alabama. When these changes take place some properties could stay in the special flood hazard area and may go from high risk to higher risk.

Generally this could result in the property having a higher premium in the future. Things like grandfathering could possibly help minimize this increase.

So what is the grandfathering rule in Huntsville Alabama?

The video below explains exactly what this rule is and when it applies.

 

As you can see there are a lot of things to understand when it comes to map changes and buying flood insurance in Huntsville Alabama.

It's important to understand when these changes are taking place. Every day we see people who have waited too long and they are paying 40% for flood insurance through the National Flood Insurance Program as a result.

So if you have further questions about these changes or want to know what flood insurance options are available in Huntsville Alabama then click here.

You can also check out our Youtube channel where we do daily flood education videos.

Remember we have an educational background in flood mitigation which means we are here to help you understand your flood insurance, flood risk, and mitigating your property long term.

Contact Us