If your home mortgage for a new home that you are buying is either a federal home loan or a federally-guaranteed home mortgage, you will be legally required to have flood insurance, if the home is located in a designated flood zone.
Flood Zone Records and Maps
Flood zones are determined by analysis of the historical flood records and making predictions about where the next floods might occur and at what frequency. All of this information is managed by the Federal Emergency Management Agency (FEMA). FEMA maintains maps of every flood zone in the United States. They are available on the FEMA website for review.
Rather than go through the trouble of looking up the information yourself, it is easier to consult with an insurance agent at Windermere Insurance in Greenwood Lake NY. The agent can tell you if your home is in a flood zone and give you an insurance quote for flood insurance if it is.
Changing Flood Zone Designation
There is a way to petition FEMA to change the status of a home designated to be in a flood zone. The procedure is complex. Getting approval of the status change is difficult and probably best attempted with aid of competent legal counsel; however, doing this is not such a good idea. In fact, there is a national trend, which shows that flooding is occurring in more places rather than in fewer ones and at more frequent intervals.
Getting Flood Insurance Even if not Required
This means that having flood insurance might be a good idea even if your home is not actually located in a designated flood zone. Just a few inches of water that enters a home can cause major damage and require significant expense to clean up and make repairs.
Contact an agent at Windermere Insurance, serving Greenwood Lake NY and the surrounding area, for a flood insurance quote.