Who has to buy Flood Insurance?
  1. If you do not have a mortgage and do not live in a floodplain you are NOT required to purchase flood insurance.
  2. If you do have a mortgage but do NOT live in a floodplain you are NOT required to purchase flood insurance.
  3.  If you do not have a mortgage but do live in the floodplain, you are NOT required to purchase flood insurance; however, it is recommended.  Verify if the property owner currently has a flood insurance policy.  If you provide FEMA an Elevation Certificate, with technical data indicating the floodplain is below the lowest adjacent grade of the structure, your status may exempt you from being in a floodplain.
  4. If you do have a mortgage and do live in a floodplain, you are affected and will be required to purchase flood insurance.  If flood waters affect any portion of your property, the whole property is declared as being in a floodplain.  If you provide FEMA an elevation Certificate and the technical data proves the floodplain will never reach your structure, you may possibly receive a reduced flood insurance rate.

Show All Answers

1. What is the Federal Emergency Management Agency?
2. What is a Floodway?
3. What is a floodplain, and what is a flood?
4. What is the National Flood Insurance Program?
5. What is a Flood Insurance Rate Map? What is the importance of a Special Flood Hazard Area and what are flood zones?
6. What is the probability of flooding within a 100-year floodplain?
7. Is there really a need for flood insurance?
8. My house is in a Floodplain? What do I need to do?
9. Who has to buy Flood Insurance?
10. What is a Preferred Risk Policy? Can this save property owners money?
11. What is an elevation Certificate?