Representatives from the state, county, Federal Emergency Management Agency and their mapping partners will be on hand tonight at the Grafton Complex to address questions on flood risk, insurance and preliminary updates to the coastal flood maps.
Flood maps, known as Flood Insurance Rate Maps, identify flood-prone coastal areas in York County. Insurance companies use them to determine flood insurance rates for buildings and contents. The maps are preliminary updates of maps dating back to 1988. The county must adopt updated maps to continue to participate in the National Flood Insurance Program.
Because of the updates, some buildings in York County may be included in a high-risk flood zone for the first time. That designation would require property owners with mortgages from federally regulated lenders to purchase insurance. Those who do not have mortgages from federally regulated lenders are still encouraged to purchase insurance.
The National Flood Insurance Program was created by Congress in 1968 to offer a means for property owners to protect themselves from flood. The program offers flood insurance to homeowners, renters and business owners if their community participates. All three Historic Triangle localities participate in the program.
In addition to the changing maps designating properties as high risk, owners of older properties may also face higher rates.
The Biggert-Waters Reform Act of 2012 requires the National Flood Insurance Program to raise rates to reflect true flood risk. Many properties built before the late 1960s in high-risk areas have been receiving subsidized flood insurance rates which do not reflect their actual risk. Check out this table from the National Flood Insurance Program to see how certain properties are affected by the new law.
The open house will be held from 5 to 8 p.m. tonight at the Grafton Complex.
