Flood Insurance Requirement for Portland's Islands

Did you see the article in the Portland Press Herald talking about FEMA and the new flood maps?    I think it's worth restating and learning a bit about what is happening in the world of flood insurance.  By June 2011 many of us could be rezoned and applying for flood insurance to maintain and satisfy our mortgages.  I've provided the link, below.

http://www.pressherald.com/news/flood-map-appeals-seeking-to-lower-risk_2010-09-17.html

VIEW THE MAPS

FMA’s maps for Portland and Casco Bay are available at www.portlandmaine.gov/planning/dfirmmaps.asp.

We will keep watching as FEMA reveals the new zones and we will post updates as we go along.  Please continue to check back  to our blog for relevant information.  In the meantime, we are urging you to be proactive.  The advice is to buy flood coverage before the new maps go into effect so that your flood zone is grandfathered in the future rating.  It's your best way to save money long-term.  You can always chose to not renew the policy if you find the flood insurance is not required later on due to the new zones being put into place.

Feel free to call us with any questions regarding flood insurance.