Flood Insurance

Delaware County is getting 'new' Flood Insurance Rate Maps. What does that mean? Well the requirement for flood insurance is based off of these maps. And no, your lender isn't the one requiring it, Congress is. They created the National Flood Insurance Program (NFIP) in 1968. Why? Because many insurance companies went belly-up from flood claims. After that most insurance companies wouldn't offer flood insurance. Some still do though, mostly overseas companies, at an increadibly huge cost. The lenders though determine if you are required to purchase flood insurance though they do a very half-ass job in this determination usually paying some other company to do it for them. Homeowners Insurance does NOT cover flood damage. Don't have a mortgage/home equity loan? Your not required (mandatory purchase of flood insurance is enforced through the lenders) to purchase it though you really really really should get it if your live in/near the floodplain. So anyway, Delaware County maps have been updated. If you want to look at them go to your municipality (usually a planning/zoning department but something the building permitting office). Think the floodplain is wrong? Better have some data and by data I mean engineering data proving that its wrong. Think the road names suck? Go ahead and comment back to the municipality, who may or may not bring that to the government (depends if they agree), who will then change it. Here is the official NFIP site. The NFIP is one of those few government programs that make a lot of sense. Money goes into the program from insurance premiums. That money is used for employee salaries, floodplain mapping, mitigation programs, and a host of other related stuff. Congress has recently been throwing taxpayer money into the pot to push things along and create modernized maps (read: digital) for the entire nation in about 5-7 years.