Before buying a home that is located in a flood zone, it’s essential to have a full understanding of what that means to make an informed decision to determine if the house is right for you. Continue reading to learn more about flood zones and three things you should know before purchasing a home that has a risk of flooding.
What Flood Zone It Is In
The term “flood zone” can actually mean a few different things, so you should always spend some time researching on your own to find more information. Many homes and neighborhoods are located in a Federal Emergency Management Agency (FEMA) flood zone but are at very low risk. For example, zones X or C are generally considered to be the zones with the lowest risk. However, if your home is in a zone labeled A or V, it is in a high-risk area, known as Special Flood Hazard Areas. This is cause for concern, as a home on this property will require flood insurance, which can be quite expensive.
Low-Risk Areas Are Still Risky
While you may think you are fine in a low to moderate flood risk area, there is still a chance that your home will be affected by a flood. According to FEMA, about 25% of all flood insurance claims come from low/moderate risk areas, so even if your risk is minimal, FEMA recommends that you get flood insurance. Homeowners insurance doesn’t cover damage due to flooding, so it’s important to know that you need separate flood insurance. Homes in lower risk areas typically only require small monthly payments that can save you thousands of dollars in repair costs!
Flood Risks May Change
Flood maps change over time, so all homeowners should know that if they purchase a home with a low to moderate risk, there is always a chance that their property may be remapped into a high-risk flood zone at some point. You can’t prevent flooding due to a natural disaster, but you can have input on the flood zone remapping in your town! Pay attention to rezoning and development requests at city-council meetings and speak out if you’re concerned with how new developments could alter floodplains in your area.
Flood Cleanup Restoration from Smith & Son’s Contracting
If you are ready for expert flood cleanup restoration services at any time of day, Smith & Son’s Contracting has the expertise, quality, and experience in the restoration and insurance industries you need. We take pride in what we do, and we know that you will too. For an exceptional job at an honest price throughout the Annapolis, Glen Burnie, Pasadena, Ellicott City, Severna Park, and Columbia areas, give us a call today at (410) 360-5252 or 1-800-246-3782 for 24/7 insurance home emergency service. You can also keep up with us on Facebook, Twitter, and contact us here. We look forward to serving you.