Yes, the government can and does regularly update the flood zone maps. The Federal Emergency Management Agency (FEMA) updates its flood maps regularly with the latest data from its catastrophe models using current precipitation data. That means a few years of heavy rains that brought either flash floods or rising water floods could change whether your home sits in a flood zone.
Recently, FEMA switched to a new risk rating methodology that increased the accuracy of its mapping. This change resulted in changes in flood risk for some homes and businesses. Northeast Insurance Advisors LLC wants you to understand how best to protect your Easton, PA home.
Risk Rating 2.0
FEMA updated its methodology in the 2020s and now uses the Risk Rating 2.0: Equity in Action model to provide an individualized risk assessment approach informed by existing flood hazard information. Its new methodology incorporates newly acquired data, updated flood models, and new technology. The new system recalculates flood risk based on flooding frequency and type of flooding, including:
- Inland waterbody overflow (rivers, lakes, streams, etc.)
- storm surge,
- coastal erosion,
- heavy rainfall.
It also considers the home’s proximity to flood sources and the home’s building characteristics.
Benefits of the New System
Some homes may appear in a flood zone that did not previously. The updated risk rating system addresses flood zone disparities that had increased premiums for some homeowners.
The new system helps FEMA more accurately map data, and the National Flood Insurance Program (NFIP) more accurately calculates equitable premium rates.
Contact Us Today
Let Northeast Insurance Advisors LLC help protect your Easton, PA home or business with flood insurance. Contact us to learn more about your policy options.
