Deadline Approaches to Buy Discounted FEMA Flood Insuranceby Michael Carson on Jun. 14, 2011, under Uncategorized
If your property’s Federal Emergency Management Agency (FEMA) flood status changes due to the new FEMA maps, you may be required to buy FEMA flood insurance. Lower cost preferred rate policies are available until June 16, 2011.
Federal Emergency Management Agency (FEMA) has published the new Flood Insurance Rate Maps (FIRM’s) which become effective June 16, 2011. These updated maps affect several jurisdictions within Pima County, including Tucson.
If a home is in a high-risk flood area and the mortgage was obtained through a federally regulated or insured lender, that homeowner is required to purchase a flood insurance policy. Flood insurance for preferred rate policies start at $129 per year. High risk flood zone rates can be over a $1,500 per year.
Potential discounted rates for insurable structures on your parcel may be available - so talk to your insurance agent before June 16, 2011, or click here.
If property owners missed the FEMA Open Houses held last month and would like to find out a property’s flood status, flood information is available from 8 AM to 4 PM at the City of Tucson’s Planning and Development Services Department, Engineering Counter, 1st floor, 201 N. Stone Ave., Tucson, Arizona 85701.)