Who has to buy flood insurance?

If you do not have a mortgage and do not live in the flood plain, you are not affected and will not be required to buy flood insurance. If you do have a mortgage but do not live in the flood plain, you are not required to purchase flood insurance.

If you do not have a mortgage but do live in the flood plain, you are not directly affected. However you may want to consider buying flood insurance, but you are not required to. If you provide FEMA an Elevation Certificate and the technical data that can prove that the water will never reach your structure, you may get out of having your structure in a flood plain.

If you do have a mortgage (or line of credit based on the home) and do live in the flood plain, you are affected and will no doubt be required to buy flood insurance. If flood waters barely touch your property, the whole property is declared to be in the flood plain. If you provide FEMA an Elevation Certificate and the technical data that can prove that the water will never reach your structure, you may possibly get re-rated a lower flood insurance quote.

Show All Answers

1. What does FEMA stand for?
2. What is a flood?
3. What is a floodplain?
4. What is the National Flood Insurance Program (NFIP)?
5. How does the National Flood Insurance Program (NFIP) benefit the community?
6. What is the Community Rating System (CRS)?
7. What is a 100-Year Flood Zone or Special Flood Hazard Area (SFHA)?
8. What is a Flood Insurance Rate Map (FIRM)?
9. What is a base flood elevation (BFE)?
10. What are my odds of flooding within a 100-year floodplain?
11. How do I know if I am in a flood zone?
12. My house is in a floodplain - what do I need to know?
13. Who has to buy flood insurance?
14. What is Pre-FIRM and Post-FIRM?
15. What is an Elevation Certificate?
16. Who can prepare an Elevation Certificate?
17. Why should I have an Elevation Certificate for my property?
18. What is a Letter of Map Change (LOMC)?
19. What are the different types of LOMC?
20. How long does it take to obtain a Letter of Map Amendment (LOMA), Letter of Map Revision (LOMR), or physical map revision?
21. My mortgage company has informed me that my house is in a floodplain and that I will be required to purchase flood insurance - what do I need to know?
22. What is floodplain management?
23. Where can I find more information about the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP)?