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Cheryl Carson
REALTORĀ®
(941) 524-9907
SRES, SRS, BRS, PSA, ePRO
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Understanding Flood Plains  

  • The highest ranked natural disaster in the U.S., according to FEMA is flooding.
  • A flood plain is an area that is subject to natural flooding from an adjoining waterway.
  • FEMA has determined all of Florida to be in a flood zone. Flood plains are evaluated & determined by FEMA for variable levels of risk.   
  • A property in a legally defined flood plain is eligible for purchase of federal flood insurance.
  • A preferred flood policy can be purchased outside of a designated flood plain.
  • Lenders use the process of flood zone determination to evaluate the property & structure that secure mortgages.
  • Federal banking regulations require certain flood zone properties to carry flood insurance as a condition of extending the loan.
  • The severity of the flood plain also impacts the owners annual flood insurance cost.
  • Cash buyers in a flood plain are not required to purchase flood insurance but highly recommended.
  • There are federal flood insurance programs covering physical structures and contents.
  • Building coverage is limited to $250,000 for a single family residence; contents coverage is limited to $100,000 for all contents on the property.
  • Additional surplus line coverage can be purchased above the federal flood insurance maximum limits.
  • Commercial flood insurance is limited to $500,000 for the building and $500,000 for the contents.
  • Properties not in a flood plain are not required to carry federal flood insurance though still recommended in moderate-risk areas.
  • About 1/3 of all flood claims occur outside a designated flood plain area.
  • Owners or buyers that wish to contest property that falls within a Special Flood Hazard Area may apply for a Letter of Map Amendment. These forms are offered on the FEMA website.
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 09/28/2022. The listing information on this page last changed on 09/28/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Stellar MLS (last updated Wed 09/28/2022 6:14:27 PM EST). Real estate listings held by brokerage firms other than Wagner Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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