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HOME > SERVICES > FLOOD > FAQs |
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FLOOD - FLOOD DETERMINATION FAQS |
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Frequently Asked Questions Q: Isn't flood damage covered by a homeowner's insurance policy?A: No. Homes, businesses and belongings can be protected with flood insurance from the National Flood Insurance Program (NFIP). An individual can insure their home with NFIP flood insurance for up to $250,000 for the building and $100,000 for the contents. Q: If only a small corner of a home's patio is in a flood zone, will the entire property require flood insurance? A: In this case, the lender may require flood insurance. If the patio is attached to the house, FEMA may require that these parts of the structure be insured. If a flood were to impact the patio or deck, the adjoining wall or foundation could be torn and washed away. Q: How can a property be in a flood zone when it's not located anywhere near water, and there has never been flooding in the area? A: There are many different types of flood zones. Floods can be caused by storms, melting snow, hurricanes and even water backup due to inadequate or overloaded drainage systems, dams or levee failure. A home may be in an area where water frequently ponds, or it might be well away from a 10-foot-wide creek, but the flood zone caused by the overflow of that creek may be hundreds of feet wide. In their floodmaps, FEMA assesses flow ways and flood plains in addition to water source proximity. Also remember, FEMA assesses up to 500 year flood plains with up to 100 year flood plains requiring flood insurance. This means, they evaluate the possibility of flooding within 100 years. Although there is no recent memory of flooding, an area's flood history may well surpass a person or a community's recent memory. Q: If two homes are on the same block and one is determined to be outside of a flood zone, can we assume the second home is also not in a flood zone? A: Not necessarily. The flood determination of a neighboring property has little bearing on the flood status of the property in question. Flood zone boundaries do not follow property lot lines. Q: Why would LandSafe Flood indicate a property is within a flood zone when the developer, city, county and appraiser show it to be clear? A: County entities and developers know their areas very well, and they know when additional flood control work has been done. However, until this work is filed and approved by FEMA through a Letter of Map Revision (LOMR) or the updating of a map, it will not affect the flood determination. To obtain flood information, most appraisers consult their local flood authority, who might clear the lot based on local information. Again, until changes to an area are updated by FEMA, the flood determination results may not change. Q: If a property is on a hill and well above the base flood elevation, can it still be in a flood zone? A: Flood map issues arise frequently. Flood maps do have elevation markers for flood zones, but the maps do not typically reflect every rise and drop in elevation. Therefore, a borrower may petition FEMA for a Letter of Map Amendment (LOMA), or the community may request a Letter of Map Revision (LOMR). Q: Why do other flood companies clear lots based on elevation certificates when LandSafe Flood does not? A: FEMA guidelines specifically state that no one, outside of FEMA itself, is allowed to remove a lot from a flood zone based on elevation. In fact, a disclaimer at the top of every elevation certificate states the following: ATTENTION: The use of this certificate does not provide a waiver of the flood insurance purchase requirement. This form is used only to provide elevation information necessary to ensure compliance with applicable community flood plain management ordinances ... and/or to support a request for a Letter of Map Amendment or Revision (LOMA or LOMR). As stated above, FEMA provides an avenue whereby a property owner can dispute their property's flood status. Once all the proper paperwork is filed with FEMA, it will take approximately 60 days for FEMA to review and respond to a request for a LOMA. If approved, FEMA will generally issue a LOMA or LOMR to change a property's flood zone status rather than revising an entire flood map. Lenders and flood determination companies are bound by the information shown on FEMA's paper maps unless a valid LOMA/LOMR is issued. For more information on FEMA LOMA/LOMR packages or the applicable FEMA regional office in your state, please call LandSafe Flood at 1-877-LS-CLOSE (1-877-572-5673). For more information on LandSafe's other real estate closing services - Appraisal, Credit and Title - call 1-877-LS-CLOSE (1-877-572-5673). |
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