The Federal Emergency Management Agency (FEMA) has issued revised Flood Insurance Rate Maps (FIRMs) for portions of San Diego County, primarily in the vicinity of Escondido, San Diego and Imperial Beach. The maps will become effective on Tuesday, April 5, 2016. These maps show areas that are considered to be in a floodplain, and therefore may require homeowners to obtain flood insurance. Disclosure of a Special Flood Hazard Area (Zone “A” or “V”) that affects the property is a statutory requirement in real estate transactions under California Civil Code 1103.
FEMA last updated flood maps in most of the county in May 2012. On the maps that will be effective on April 5th, approximately 5 parcels have been added to the Special Flood Hazard Area (“100-yr flood zone”) and about 146 parcels have been removed from this high-risk zone.
Prospective home buyers may wish to check with their insurance agent to see if the property’s flood zone, and insurance requirements, will be affected by the map changes.
For more information about…
– the flood map changes and how they may affect your clients
– insurance requirements which these changes may trigger
– opportunities that may benefit your clients with lowered flood insurance costs
– disclosure compliance
– how to view the new FEMA maps online
…give us a call and we will make sure that you receive the information you need regarding the changes.