If you’re a resident of Orleans Parish or considering buying a house in Orleans Parish, listen up! Flood insurance map changes are taking effect on September 30, 2016, and it will mean good news for 73% of properties in New Orleans. The large number of homes will be removed from the Special Flood Hazard Area (SFHA), 23% will remain unchanged, and 4% will move to a higher risk flood zone. Regardless of where you live in Orleans Parish, we recommend taking a few minutes to understand the upcoming flood insurance map changes. Below you will find the highlights of what is coming.
Please note: If you live in Orleans parish, you live in a flood zone. The level of risk is what differs. Below is a simple table to help you understand the differences between the five most common flood zones.
Now that you know the difference between flood zones, click below for a short video tutorial on how to use the FEMA flood maps to find additional information on the changes to flood zones for your particular neighborhood. Regardless of where your property is mapped, flood insurance is vital. For 73% of property owners, preferred rate policies will allow flood insurance to become even more affordable. If your property falls outside the 73%, your flood insurance agent may be able to lock in your current rates for an additional 12 months if you contact them before September 30th!
Disclaimer: Always consult your insurance professional before making any changes to your flood coverage or if you need information regarding the flood risk of a specific property.
Visit the resources below to familiarize yourself with additional flood insurance information and commonly asked questions.