Not in a Flood Zone – Is it accurate ?
It’s true that some houses might not need flood insurance. It’s because they are in a low-risk flood insurance zone. But, here’ the thing, every house is in a flood zone. Whether you buy flood insurance depends on a few different things. First, which flood zone you’re in.
If you’re in a flood zone OTHER than B,C, or X you will not be required to buy flood insurance.
If you do not have a mortgage, no flood insurance requirement.
This house at 54 Water Street in Guilford, CT 06437 is currently for sale, and advertised as not being in the flood zone. This is partly true, because it is in the X flood zone, which is low risk. It’s still in a flood zone, though.
Ultimately, since it is in the X zone, flood insurance is cheap…$500 per year for $250,000 Building coverage and $100,000 Contents coverage, with a $1,250 deductible.
It’s cheap for a reason, because it’s an area that is not prone to flooding. For more on flood zones read below:
Flood hazard areas identified on the Flood Insurance Rate Map are identified as a Special Flood Hazard Area (SFHA).
SFHA are defined as the area that will be inundated by the flood event having a 1-percent chance of being equaled or exceeded in any given year. The 1-percent annual chance flood is also referred to as the base flood or 100-year flood.
SFHAs are labeled as Zone A, Zone AO, Zone AH, Zones A1-A30, Zone AE, Zone A99, Zone AR, Zone AR/AE, Zone AR/AO, Zone AR/A1-A30, Zone AR/A, Zone V, Zone VE, and Zones V1-V30.
Moderate flood hazard areas, labeled Zone B or Zone X (shaded) are also shown on the FIRM, and are the areas between the limits of the base flood and the 0.2-percent-annual-chance (or 500-year) flood.
The areas of minimal flood hazard, which are the areas outside the SFHA and higher than the elevation of the 0.2-percent-annual-chance flood, are labeled Zone C or Zone X (unshaded).