If your home is located within a FEMA-designated floodplain, you are required to carry mandatory flood insurance if you have a federally-backed mortgage. Flood insurance premiums vary, depending upon the flood zone where a property may be located or the elevation of the building.
Even if you are not located within a FEMA floodplain, but are near one, flood insurance is recommended. You might qualify for a low-cost Preferred Risk Policy. Always check with your mortgage lender. Renters should consider flood insurance for their contents.
If you believe that your home is incorrectly shown within a floodplain, you may obtain an Elevation Certificate and not be required to pay flood insurance. See Floodplain Maps.
More information regarding flood insurance can be found at the Floodsmart website.