What does it mean to a HomeOwner?
We are now discovering some recent changes in our flood zone base elevations that were implemented in August of this year. These changes will put some subdivisions that were not requiring flood insurance into a flood zone A which now will require flood insurance. A base flood elevation is set for everywhere in the state of Louisiana. Base flood means at what floor level will a home flood. If you have a base flood of 12', and the home is sitting at a ground level of 14', then you are 2 foot above the flood base elevation. When the Corp of Engineers comes in and changes the base from a 12' to a 15' base flood elevation, then the same home that was at 14' is now 1 foot below the flood elevation and this now puts you into a flood zone classification of A. Flood zone A requires flood insurance.
This recent change in the Flood elevations maps will require agents and buyers to become very careful in their easements of the Property Condition Disclosures given by all sellers. A Seller will say they weren't required flood insurance on this document, BUT that doesn't mean the new buyer won't be required to pay flood insurance of the very same property. Because of the time it takes for the sellers to be notified by the powers that be; they could very well not know about their change of flood zone classification for a year!
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