Today we are discussing the upcoming flood insurance map changes for Sitka Alaska. Here are four things we want to address today.

Why are the maps changing?

Who will be impacted?

Can you fight the changes?

What are the flood insurance options?

 

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Why are the Flood Insurance Maps Changing in Sitka Alaska

So why are the flood insurance maps changing in Sitka Alaska?  Well Sitka has had a history of flooding and flood exposure. Being a coastal area on the West coast it is exposed to the Tsunami risk. There are other risks like inland flooding that occurred in 2015 creating landslides, mudslides, and other flooding issues. The area requested a FEMA study in 2013 to review the risk and many times these studies can take several years to review. In 2017 FEMA and Sitka agreed on what they thought the new maps should be but still needed the residents input and feedback. Now that these new maps have been agreed up on  a date has been set for them to go into place which is August 2019. 

 

Who is Being Impacted in Sitka Alaska?

The impact for Sitka Alaska will be fairly large from a percentage standpoint. 9.9% of the population could be impacted by these changes. It does not mean its a bad impact . Some will be remove from high risk flood zones and some will not.

Right at 300 property owners are predicted to either be moved into a high risk flood zone or have flood insurance rate increases as a result of the zone changing. This means they will either be moved from a flood zone x to a flood zone A, flood to a zone AE, or Flood Zone VE. Those looking at higher premiums will be moved from a flood zone A to a flood zone AE or VE, or from a flood zone AE  to a flood zone VE.

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Can You Fight the Flood Zone Changes?

So can you fight the flood zone changes? Yes you can fight it because of the way FEMA makes their flood maps and determines the flood zones these changes are not always accurate. For example FEMA might say your property is in a high risk flood zone but your house sits on a hill. FEMA is using the entire parcel in determining the risk and not necessarily the structure. 

So what do you need to fight it? Well generally the easiest thing is to have an elevation certificate. What is an elevation certificate? This is a certificate done by a surveyor that shows the different elevations of the home and how they compare to the base flood elevation.  How much do elevations cost? The national average on these range from $500-$700.  Who can help you fight it? At The Flood Insurance Guru we help people fight these everyday. So how do you know if you are a good candidate to get your flood zone changes? The best place to start is by looking at the lowest adjacent grade on the elevation certificate. If it is more than a foot above the base flood elevation then you might be a good candidate. If not then we recommend letting us  do a deeper flood zone change review for you.

 

What are the Flood Insurance Options in Sitka Alaska?

When it comes to flood insurance in Sitka Alaska or other parts of Alaska you have two options for flood insurance. You can go through FEMA or NFIP and the private flood insurance market.

 

         FEMA or NFIP

FEMA or the National Flood Insurance program is the flood insurance program that is is run by the government. Most people think this is the only option especially when it comes to good coverages. There are a few things a NFIP flood policy will cover the first thing is the building up to $250,000 if it is residential building and $500,000 if it is a commercial building. NFIP will also cover contents up to $100,000 as long as those contents are located above ground. So then what does private flood insurance cover?

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       Private Flood Insurance

Private flood insurance is done a little bit differently than NFIP. First of all it is backed by private flood insurance. So while NFIP has to accept all risks private flood insurance can pick which risks it wants. Because of these many times private flood insurance rates can be 50% less than NFIP policies. So what does a private flood insurance policy cover?

Private flood covers the building and contents like NFIP does but does not limit the coverage. Some other things they offer are contents coverage in basements, temporarily living expenses, and replacement costs on contents. 

 

Understanding the upcoming flood map changes for Sitka Alaska can be overwhelming. Is it impacting you, how much it is impacting you, and when will you be notified?  Maybe you have more questions about these changes or want to get a flood insurance quote. You can click the link below to start this process. Remember to visit our website Flood Insurance Guru, our YouTube channel The Flood Insurance Guru, and our Facebook page The Flood Insurance Guru where we do daily flood education videos.

 

Start My Flood Insurance Quote

 

 

Chris Greene

Author

Chris Greene

President of The Flood Insurance Guru
M.S. in Emergency Management with a focus in Flood Mitigation
flood@communityfirstagency.com

 

 

 

 

 

 

Today we are discussing the August 2019 flood insurance map changes for Carroll County Georgia and areas near Lake Little Tallapoosa. What will the impacts be? Can you fight it? What are the options?

 

What Will the Impacts Be?

The new flood insurance maps are expected to move 75 property owners from low risk non mandatory zones to high risk mandatory flood zones. What exactly does this mean? Well if you have a mortgage it means you will be forced to carry flood insurance on your mortgage going forward. There will also be parts of areas like Carrollton and Temple Georgia where properties will be moved to low risk zones. This means the additional payment on your mortgage will be removed. 

 

Can You Fight It?

Just because you received a letter from your mortgage company that your property in Carroll county Georgia is now in a high risk flood zone does not mean its correct. While FEMA tries to do the best they can many times their technology does hold them back. This technology has come along way but still has a long way to go.  So how do you verify if this new flood zones is correct? The easiest way is to get an elevation certificate done. This will tell you if your property is above the base flood elevation. If it is then your property might be a good candidate to have the flood zone changed. So where can you get one of these elevation certificates and how much should it cost? While getting a flood zone changed is great it does always work out. So when it does not what are the flood insurance options?

What are the Flood Insurance Options?

So now that you are being forced to buy flood insurance what exactly are the options? Well you have two options.

 

                  FEMA or NFIP

Option number one is you can do a traditional flood insurance policy through FEMA or the National Flood Insurance Program. Before reaching out to any insurance agent to get this done you will want to make sure to contact someone like the Flood Insurance Guru who deals with these situations everyday. There can be a wide range of pricing with the National Flood Insurance Program if things are not entered correctly. You might be told you have to have an elevation certificate in order to get flood insurance. This depends on the year your home was built and if it has been updated. You may have been given a standard rate when in fact you should have been given the newly mapped revision rate. This rate is generally about $600 a year for the first year. Then each year after that it will steadily increase until it reaches the correct premium for the risk.  Whats also important to understand is that on residential policies only $250,000 is available on the building and a $100,000 for contents. So what if you already took a policy out and didn't get the new mapped rate can it be changed? As long as its within 12 months of the map changing this rate can be corrected but once it reaches 12 months it can not. So what is the option for flood insurance?

 

              Private Flood Insurance

So what is private flood insurance?   

Private flood insurance is backed by private flood insurance companies where NFIp is backed by the government.  Unlike NFIP coverages are not limited to $250,000 on buildings and $100,000 on contents. Additional living expenses are also available, so if your property floods you could have temporary housing. Also one of the biggest benefits for residents of Carroll county Georgia is the rates can be 50% less and not require an elevation certificate.

 

So we have discussed how Carroll county Georgia residents could be impacted by the new flood maps, how you can fight it, and what the flood insurance options in areas like Carrollton and Temple Georgia are. Maybe you have further questions?

Please visit our website Flood Insurance Guru , our YouTube channel The Flood Insurance Guru, or our Facebook page The Flood Insurance Guru where we do daily flood education videos.

You can also click the link below to start reviewing flood insurance options in the Carrollton Georgia area.

 

Start My Flood Insurance Quote

 

 

Chris Greene

Author

Chris Greene

President of The Flood Insurance Guru
M.S. in Emergency Management with a focus in Flood Mitigation
flood@communityfirstagency.com