A floodplain is the level part of the land that is next to a stream or a river. The Federal Emergency Management Agency (FEMA) defined all the areas in the United States into specific geographic sections that are identified by the potential risk of floods.
Each city or town that has any potential flood risk will have a Flood Hazard Boundary Map or a Flood Insurance Rate Map (FIRM) that shows all the areas with their estimated risk of flooding. The risks of floods are calibrated from historical records. They are delineated as 100-year flood zones and 500-year flood zones. 100-year flood zones have a 1% chance of having a flood within a 100-year period. 500-year flood zones have a 1% chance of having a flood within a 100-year period.
The FIRM is used in conjunction with the Nation Flood Insurance Program (NFIP). The U.S. government requires flood insurance for any homes located in a designated flood zone that has a mortgage supported by federal funds or guaranteed by federal entities.
How do you find out if a home is in a designated flood zone?
The way to determine if a home is in a designated flood zone is to review the FEMA maps at msc.fema.gov. If you do not want to have to do that, you can consult with your insurance agent at Friant Insurance Agency in Laguna Hills, CA and the agent can look it up for you. If you are considering buying a home, this is an important thing to check.
Do you need flood insurance even if it is not required?
Even if flood insurance is not required, it may still be a wise decision to have it, especially if the home is near a flood zone but not in it. Weather patterns are changing, and previously safe areas may no longer be as safe.
Ask your agent at Friant Insurance Agency, serving Laguna Hills, CA and the surrounding area, for a flood insurance quote and have your questions answered.