Broward County’s new flood zone maps will require thousands to purchase new flood insurance policies beginning July 31, 2024

22 May Broward County’s new flood zone maps will require thousands to purchase new flood insurance policies beginning July 31, 2024

Posted at 15:44h in Flood Insurance, Homeowners' Insurance, Property Insurance, Uncategorized by
By Anita Byer, Setnor Byer Insurance & Risk

The Federal Emergency Management Agency recently finalized Broward County’s new Flood Insurance Rate Maps (FIRMs). According to the City of Ft. Lauderdale’s Flood Plain Manager, Broward County’s new FIRM will expand the Special Flood Hazard Area by 15 percent. This is significant because home and business owners with mortgages from federally regulated or insured lenders are required to carry flood insurance if their property is located within a SFHA. Preliminary reports indicate that nearly one hundred thousand additional property owners will be required to carry flood insurance when Broward County’s new flood maps become effective July 31, 2024. Does that include you?

Flood zone maps are used to determine a property’s flood risk. Any place with a one percent (or higher) chance of experiencing a flood each year is considered to have a high risk and is placed in a Special Flood Hazard Area. While a one percent chance may not seem concerning, these areas have at least a one-in-four chance of flooding during a 30-year mortgage. FEMA’s high-risk flood zones include the following designations.

  • Zone AO indicates areas with a one percent chance of shallow flooding (1 to 3 feet) each year, usually in the form of sheet flow. Mandatory flood insurance purchase requirements apply.​​
  • Zone AH indicates areas with a one percent chance of flooding (1 to 3 feet) each year. Mandatory flood insurance purchase requirements apply.​​
  • Zone AE, which is typically found in areas that are close to oceans, rivers and lakes, indicates areas that have a one percent chance of flooding each year. Mandatory flood insurance requirements apply.
  • Zone VE indicates coastal areas that have additional hazards associated with storm waves. Mandatory flood insurance requirements apply.
  • Zone X (shaded) indicates areas with moderate flood risks (i.e., fewer floods or shallow floods). Flood insurance is not mandatory.
  • Zone X (unshaded) indicates areas determined to have a minimal risk of flooding. Flood insurance is not mandatory.

It is important to note that neighborhoods across Broward County may be affected differently by these new maps. Some properties will have the same flood risk as before, while others may be mapped into a higher-risk area. Those holding a mortgage with a federally-regulated lender may need to purchase flood insurance from the National Flood Insurance Program. Some private mortgage companies may also require flood insurance for structure that are mapped into a high-risk area.

Before the new flood maps become effective, those owning personal or business properties in Broward County need to find out whether their flood zone designations have changed and whether they will be required to purchase flood insurance. The new flood maps can be found here. Those that are not required to carry flood insurance under the updated flood maps are nevertheless encouraged to do so because “No-Risk-of-Flood” zones simply do not exist. Floods can happen wherever it rains.

The new flood maps take effect July 31, 2024, so Broward residents do not have much time to find out whether their flood zone designations have changed. Please contact us to find out whether you will need to purchase flood insurance because of Broward County’s new flood zone maps.

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