Flood insurance changes are coming to metro Atlanta counties. In the wake of severe flooding in the last few years, area flood maps may be re-drawn. The Georgia Department of Natural Resources is presently working closely with Federal Emergency Management Agency (FEMA) to assess possible changes to the area's flood maps.
The agencies are currently evaluating a 107 mile area surrounding the Upper Chattahoochee River Basin. Affected areas include Cobb, Coweta, DeKalb, Douglas, Fulton, and Gwinnett counties. The Atlanta Journal-Constitution reports that DeKalb County alone could be adding almost 550 acres to the 100 year floodplain.
In September 2009, many areas of metro Atlanta experienced severe flooding. Flooding issues have continued in the last two years as well. Many homes and buildings were destroyed or left uninhabitable during the flooding. Unfortunately, not all of those affected owners had flood insurance policies. Of those who did, many only had it because it was required by their mortgage company. Prior to closing, all mortgage companies pull a flood certification. This determines whether or not the property is located is a flood zone that will require flood insurance.
These changes will impact both new home buyers and current home owners. Properties which are not currently in a flood zone, could soon be in one. This means that any new mortgage would require a flood insurance policy prior to closing. For current home owners, its possible that their current lender may require that a flood insurance policy be obtained.
As many home owners will now attest to, if you are in or even near a FEMA designated flood zone, then having flood insurance is not a bad idea. Most regular home owner's insurance policies do not cover damages caused by flooding. Many of those who suffered damages during the recent floods now wish they would have had a flood policy in place.
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