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A flood insurance rate map (FIRM) is an official map of a community within the United States that displays the floodplains, more explicitly special hazard areas and risk premium zones, as delineated by the Federal Emergency Management Agency (FEMA). [1]
The need for flood insurance when buying a house in a flood zone is critical, and if the home you’re buying is in an SFHA high-risk zone, your mortgage lender will likely require it.
Areas within the SFHA are designated on the flood insurance rate map as Zone A, AO, A1-A30, AE, A99, AH, AR, AR/A, AR/AE, AR/AH, AR/AO, AR/A1-A30, V1-V30 or V. [2] Land areas that are at high risk for flooding are called special flood hazard areas (SFHAs), or floodplains. These areas are indicated on flood insurance rate maps (FIRMs).
FEMA’s flood maps haven’t kept up with the changing climate, and mortgage lenders typically only require homeowners to have flood insurance if the property is located in a federally declared ...
FEMA still uses Flood Insurance Rate Maps (FIRMs) for mandatory purchase requirements and floodplain management. These FIRMs still serve as a vital source of flood mapping data for communities.
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968 (P.L. 90-448). The NFIP has two purposes: to share the risk of flood losses through flood insurance and to reduce flood damages by restricting floodplain development.
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