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Flood maps will change insurance costs

Posted On Fri, October 7, 2011

A member of the Federal Emergency Management Agency recently told that flood insurance coverage may change significantly, as the National Flood Insurance Program's rate maps are expected to change.

For those who are not in an area that is a part of a designated national disaster, any expenses will be up to them if their home is damaged by flooding. This could become a huge problem if the person does not have the proper insurance.

"Anyone who lives in a community, whether they are in a special flood plain area or if they live at the top of a mountain, you can buy flood insurance," Dave Bollinger, a FEMA regional mitigation coordinator, told the news source. "Risk isn't what happened yesterday. It’s what could happen tomorrow. We’re seeing larger and larger rainfalls in watersheds."

Flood insurance may be important, especially if a person lives in an area that is at a higher risk. While standard home insurance rates don't include flood coverage, it may be a smart plan to examine other insurance quotes, as this could ensure that a person is in the best position possible.

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