Flood Damage Restoration in Frederick Md

Over the past 32 years, $11.6 billion in claims has been paid by the federal flood insurance program. As much as 25% of those funds were given to the owners of flood damaged properties that were located outside of assigned ‘flood prone’ areas. Continue reading this article to learn more about the federal flood insurance program.

What is the Federal Flood Insurance Program?

In 1968, Congress created the National Flood Insurance Program (NFIP) in response to the increasing damage caused by floods and the rising taxes used to fund disaster relief specifically for flood victims.

The Federal Emergency Management Agency (FEMA) controls the National Flood Insurance Program and takes part in managing floodplains and the geographic mapping for the program. FEMA determines the extent that possible flooding will damage certain areas of land located in the participating communities. Flooding threats can be classified as anything from minimum to severe. Severe flood threat locations are labeled “Special Flood Hazard Areas” (SFHA’s).

Throughout the United States and it’s territories there are more than 20,000 communities participating in the National Flood Insurance Program. Those communities implement the floodplain ordinances into the town management systems in order to reduce future flood damage. The NFIP offers Federally supported flood insurance to homeowners, renters and business owners to the participating communities.

Every year flood damage is reduced by almost $1 billion with successful partnerships with the insurance industry, communities and the lending industry. Buildings that have been constructed according to NFIP building standards have 80% less damage per year than buildings not build to the standards. Also, every $3 that is paid for flood insurance claims saves $1 in disaster assistance programs.

Talk about saving money!!!

Taxpayers do not pay for flood insurance, participating members pay premiums to cover operating expenses of the NFIP as well as flood insurance claims.

SFHA’s and the ’100-year Floodplain’

The Special Flood Hazard Area (SFHA) is also known as the 100-year floodplain. To be more exact, the 100-year floodplain is the floodplain connected to a flood with a 1% yearly change of being equaled or exceeded in any year. It is definitely not a flood that occurs once every 100 years, but it is a flood that has a 1% chance of occurring every year.

Does the law require me to purchase flood insurance?

If you plan to get secured financing to build, improve or buy structures that are located in Special Flood Hazard Areas (SFHA’s), you will be required by law to purchase flood insurance. Lenders that are federally regulated are also required by law to find out if the structure will be located in a SFHA and need to provide the buyer with written notice that flood insurance is required. Basically, for buildings located in the Special Flood Hazard Areas if you don’t have flood insurance you won’t get a loan.

What if my property is not in a SFHA?

FEMA recommends you should buy flood insurance on properties not located in Special Flood Hazard Areas. The Federal Emergency Management Agency (FEMA) states that all areas are vulnerable to flooding but to varying levels. Believe it or not, 25% of all flood claims are located in the low to moderate risk areas. Flooding can be caused by several factors; such as heavy rains, snow melting, poor drainage systems and a handful of others.

Guaranteed Immediate Emergency Response in Maryland, Virginia or Washington DC Any Time of Day or Night…

Maryland Water Damage Restoration

24/7 Live Dispatch
Emergency Disaster Response Specialists
1 (866) 898–6653

5715 Industry Lane, Unit # 2, Frederick, MD 21704

Mike Phelps
mike@homeprorestoration.com

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