Many who come to Florida to retire or because they prefer a warmer climate used to live in places that rarely flood. Even though flooding is one of the top natural disasters in the U.S., flood zones and flood insurance may be new information to you if you have relocated from a city where flooding is not common. If you have settled in Tampa Bay, or anywhere else in Florida, take a moment to learn more about flood zones and how they will affect your home and your insurance. Whether you’re working with a Realtor® or searching on your own, knowing what each flood zone means and how it may impact you is important.
All of Florida is in a Flood Zone
The Federal Emergency Management Association (FEMA) draws flood maps for the entire nation. Because much of Florida is at or below sea level and because the state is surrounded by water, all of Florida is considered in a flood zone. Much of the inland areas are classified as low- to moderate-risk while coastal areas are often high-risk zones. If your property is considered to be in a high-risk zone, flood insurance is mandatory.
Classifications
If you're interested in a home but the flood zone isn't noted in the listing, you can look it up on the FEMA website. Here's a quick overview of the different flood zones and what they mean:
· Zones with a less than 1% chance of flooding each year – B, C and X
· Zones with a 26% chance of flooding every 30 years but less than 1% annually – A, AE, A1-A30, AH, and AO
· Zones with greater than 1% chance of flooding annually and a 26% chance of flooding every 30 years – V, VE, V1-V30 (these areas are along the coast and flood insurance is mandatory)
· Zone D has possible flooding but undetermined risk
There are also a few special classifications. One of these classifications is Zone AR which is when the flood risk is increased due to the reconstruction of a dam or levee. Another is Zone A99 which speaks to the fact that a levee will be constructed once the area reaches a designated population density.
Do I Need Flood Insurance?
Depending on which zone your home is in, you may be required by the bank to have it. If you are not in a flood zone which requires flood insurance, you still have the option to purchase it and may choose to do so as a precaution. Keep in mind that your homeowner’s insurance does not cover water that rises up, only water that comes down. So, if a hurricane tears off the roof of your home, it would be covered for water damage even if you did not have flood insurance. However, if the sewers become so over burdened by water that your street floods and allows water to come in through doors and windows, your homeowner’s insurance won’t help you.
Flood insurance is relatively affordable in the low-risk flood zones and is a good idea in Florida. As you look at different properties, talk to your Realtor® about flood risk and recent flooding history in the area. If you don’t have a Realtor® you’re working with and want to work with one knowledgeable in flood zones, call us at (813) 992-7771. Our team has vast knowledge about the many communities throughout Tampa Bay.
