Did you know?
Whether you are in a high-risk zone or not, most homeowners’ insurance doesn’t cover flood damage to the structure and contents of your home. If you live in an area with low or moderate flood risk, you are 5 times more likely to experience a flood than a fire in your home over the next 30 years. Call your insurance agent today and protect what you’ve built.
The City of Nassau Bay participates in the National Flood Insurance Program (NFIP), which is backed by FEMA and is available to all properties, including those that have flooded previously. Further information regarding NFIP may be found here.
Risk Rating 2.0
Fema is updating the National Flood Insurance Program's (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarily sound, equitable, easier to understand and better reflect a property's flood risk.
What does this mean for Texas? What does it mean for Nassau Bay? What does the City do to mitigate flooding risk and save citizens money?
Risk Rating 2.0 for Texas: You can read an excerpt from the NFIP for details that are specific to Texas here. The pdf highlights the specific impact Risk Rating 2.0 will have on Texas residents and what communities can do to assist.
The following table shows what Nassau Bay residents can expect for increases/decreases to their NFIP policies
|Decrease||Increase upto $120/yr||Increase unto $240/yr||Increase > $240/yr||Total|
|249 homes||2,317 homes||215 homes||260 homes||3,041 homes|
Nassau Bay is active in the Community Rating System (CRS) with a rating of 7, which decreases flood insurance premiums by 15%. In addition, the City is very active in flood mitigation efforts, such as the home elevation program and pursuing eligible grants (Hazard Mitigation Grant Program, Building Resilient Infrastructure & Communities, and Flood Mitigation Assistance). These activities minimize property loss for the citizens and protect infrastructure.
Because flood risk changes over time, the NFIP and FEMA work with communities, such as the City of Nassau Bay, to identify and map flood risk on an ongoing basis. Property owners, insurance agents, lenders and realtors can use flood maps to determine flood insurance requirements and policy costs.
To understand your flood risk and view your flood maps, visit the Flood Map Service Center (MSC).
To learn more about the National Flood Insurance Program (NFIP) and how to obtain flood insurance, visit FloodSmart. The NFIP Flood Insurance Claims Handbook, created by FEMA, provides policyholders tips about what to do before and after a flood, including filing a claim, and the steps involved in appealing a denied claim.
If you would like information regarding how you may lower your NFIP premium, contact the professionals at Flood Risk Evaluator. Their staff of Certified Floodplain Managers are knowledgeable on all the latest NFIP changes that are affecting your policy such as the Biggert-Waters Act (BW-12) and the Grimm-Waters Act (Homeowners Flood Insurance Affordability Act).
Make a plan, be ready for disaster, visit www.Ready.gov.