New Palm Beach County, Florida Flood Map Zoning

Palm Beach, Florida. Amazing aerial view of coastline.

In October, roughly 50,000 Palm Beach County properties will be reclassified as either touching or being in a flood zone, which could dramatically change the cost of their homeowners insurance. However, a new map that was made available this week on a county website is leaving many homeowners confused and unsure about where their property stands.

According to an article in the Palm Beach Post, one homeowner whose property is currently classified as low risk saw their property showing a pending designation of “special flood hazard area” on the new map.

County officials have tried to reassure homeowners that the new map is not definitive and will not necessarily result in higher insurance costs.

“Just because your property touches a special flood hazard area does not mean your house is in a special flood zone and you have to pay more for insurance,” said Doug Wise in the Palm Beach Post article. Wise is a county floodplain administrator.

Flood Insurance in Florida is Tricky

Flood insurance is always a big issue in the Sunshine State. It is the top market for flood coverage in the country with Florida residents owning 40 percent of the 5 million flood insurance policies in the U.S. In Palm Beach County alone, there are over 100,000 policies, with 66,000 in unincorporated areas, 15,000 in Boca Raton, 7,000 each in Jupiter, Delray Beach, and Palm Beach. Boynton adds another 9,000 policies.

The western and central part of the county will incur many of the changes according to officials. Jeff Sullivan, Geographic Information Systems coordinator for Royal Palm Beach was quoted in the article saying, “About 5 percent of Royal Palm Beach’s properties are being designated special flood hazard areas.”

In total, 50,839 Palm Beach County parcels will be moving to a higher-risk flood zone rating while 45,640 will move to a lower risk rating and 36,983 are staying the same. It should be noted that flood maps have not been revised by the Federal Emergency Management Agency in the county since 1992

The revisions to the local flood maps are the result of years of public meetings and planning by local officials who have gathered data and examined current flood risks to make sure that residents and their property were fairly rated for their risk of a flood.

On a Federal level, Congress is working on a fix for the federal flood program that is coming up for reauthorization at the end of September.

Flood Insurance May Be Required

If your home has moved to a higher risk pool, you may be required to carry a flood insurance policy. Your mortgage lender will be notified and could determine that flood insurance is a requirement for your property so they are fully protected in the event that your home is damaged or destroyed in a flood. Flood damage is not covered by a standard homeowners policy and a separate flood policy must be purchased if your mortgage lender requires it.

Flood insurance is available in both the private market and through the federal government’s National Flood Insurance Program (NFIP). These policies can be very expensive depending on the location of your home.

Here are a few tips to reduce your flood insurance costs.

• Structural Improvements: It is possible to lower your flood insurance costs by making structural improvements to your home that help prevent or minimize flood damage. Elevating your living area above the base flood elevation can result in a significant discount. Flood vents can also help by reducing the pressure of floodwater. Be sure to verify with your insurer that these improvements will lower your premium, as they can be very expensive improvements.

• Shop Around: While your options are often limited, some private insurance companies have moved back into the Florida market. Shop your coverage with both the NFIP and any private companies that offer coverage in your area. Easily Compare Florida Home Insurance Quotes Today!
• Elevate Your Utilities: If your home utilities are located in the basement or below base flood elevation, have them raised. It is possible to relocate them to the attic, an upstairs closet or even an elevated platform.

For immediate quotes, we can help you compare the best Florida home insurance rates online or give us a call now at 888-685-4704!