The Cobb Group Blog - FEMA

Risk Rating 2.0: Equity in Acton

Posted by The Cobb Group on July 6th, 2022

FEMA has a newer flood insurance program called Risk Rating 2.0 that is gaining traction. Previously buyers scrambled to assume flood rates of the homes in which they were purchasing to keep rates down, but in doing that they were also assuming any issues with the policies. Sellers would have to call insurers and give permission to allow assumption. This updated program allows the buyer of a new home to take advantage of any discounts without approval and creates a brand new researched policy for the new homeowner. 

Flood insurance follows the home and not the homeowner. In order to take advantage of a discounted premium coverage, a home will need to have had continuous coverage. A buyer will also need the NAIC number and NFIP number that are both…

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New Flood Maps for Hilton Head Island

Posted by The Cobb Group on September 30th, 2020

The Town of Hilton Head Island sent out a News Release this week with FEMA's new flood maps. You can search your address and see to what extent your property is at risk for flooding. 

The flood zone terminology has changed too. 

 

Zone X (formerly Zone C) – low-risk zone
Zone Shaded X (formerly Zone B) – moderate-risk zone (0.2% annual chance flood) Zone AO – areas of shallow flooding
Zone AE – high-risk zone (1% annual chance Flood)
Zone VE – coastal high-hazard zone

Click here to check your address!

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