I've attended two meetings in the past week dealing with the new FEMA -Federal Emergency Management Agency Flood Plain maps for Lucas County, Ohio. If you are buying a home in a designated Special Flood Hazard Area, you will be required to purchase flood insurance if getting a Federally backed loan (which most loans are). That hasn't changed, but here is some important information about the new flood maps and flood insurance:
- The maps are preliminary now, but will become finalized next year after a series of neighborhood meetings.
- Anyone can buy flood insurance. Apparently a good 25% of all Lucas County homes that flood each year are outside of the 100 year flood plain.
- Regular home owners insurance does not cover damage due to flooding.
- Homes that will be moved into the 100 year flood plain areas with the new maps can purchase flood insurance now and be grandfathered in at the lower rate.
Click here to see the digital preliminary maps.
