|
High
flood risk |
|
AE,
A, AH or AO Zone. These properties have a 1 percent
chance of flooding in any year - and a 26 percent
chance of flooding over the life of a 30-year mortgage.
VE or V Zone. These properties have a 1 percent
chance of flooding in any year and also face hazards
associated with coastal storm waves.
Insurance note: High-risk areas are called Special
Flood Hazard Areas, and flood insurance is mandatory for
most mortgage holders.*
|
|
Low or
moderate
flood risk
|
|
Flood insurance is optional, but recommended. The
risk is reduced, not removed. Flood insurance can still
be obtained, and at lower rates. 20-25 percent of
all flood insurance claims come from low to
moderate risk areas.
Conversion offers savings. An existing policy can be
converted to a lower-cost Preferred Risk Policy for
those properties that qualify. |
