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People who live in a high-risk flood area have at least a one-in-four chance of experiencing a flood at some point during a 30-year mortgage. Knowing whether you live in a high-risk flood area is important for planning ahead, and it can help you decide whether flood insurance makes sense for your home. Flood maps and flood insurance can be confusing for many homeowners. To learn more about your risk and how flood insurance can help, contact the professionals at Linda Dugan Insurance, serving Astoria, OR. We can help you determine your level of risk.
What Are Flood Maps?
Flood maps are created by the federal government to help homeowners understand their property’s level of flood risk. They’re made available to the public by the federal government and independent data providers.
How Can I Tell If My Home Is in a High-Risk Flood Area?
You can look up your home on flood maps through the federal government or independent data providers online. Homes with at least a 1% chance of flooding in any given year are generally considered high-risk. Since flood maps don’t follow township or property lines, the only way to know for certain whether your home falls into a high-risk zone is to look up your specific property.
Am I Required to Get Flood Insurance If I Am in a High-Risk Flood Area?
If you’re buying a home and financing it with a mortgage, your lender may require flood insurance before the loan can be approved. If you need flood insurance, the professionals at Linda Dugan Insurance, serving Astoria, OR, can help. Call today to get started.
