![]() ![]() The National Flood Insurance Program (NFIP) was established by Congress in 1968 to ensure that people could purchase flood insurance.Īnyone who built their mortgaged structures in compliance with the flood map in effect at the time of construction, or if no flood map was in effect, can save money by purchasing a Preferred Risk Policy (PRP) before the FIRM is in effect. Depending on the language within the loan documents, some mobile homes could be affected by the mandate.Ĭontrary to popular belief, when floods occur they are not necessarily declared national disaster areas, and even then federal government assistance usually comes in the form of loans that have to be paid back, according to FEMA. 16, 2016, all federally regulated or federally insured lenders must require anyone with a mortgage for a home, business and many other types of buildings to carry flood insurance. Once the FIRM is in effect, tentatively scheduled for Sept. Previously the region was designated as an area of undetermined flood risk (Zone D) and the remainder in Zone X. Most of eastern Coachella Valley will be rated as a higher risk flood zone, which is known as a Special Flood Hazard Area (SFHA). The maps also help FEMA and the Coachella Valley Water District (CVWD) to review proposed developments and to plan for and respond to flooding in the region. This will enable property owners to make informed decisions about reducing flood loss and mitigating potential damage from flood hazards. A Flood Insurance Rate Map (FIRM) will be completed soon by the Federal Emergency Management Agency (FEMA) for significant portions of eastern Coachella Valley.
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