Insurance Questions
- How do I purchase a flood insurance policy?
- What are the "grandfathering" rules of the National Flood Insurance Program?
- Can County residents qualify for "grandfathered" insurance rates if they purchase flood insurance now?
How do I purchase a flood insurance policy?
To purchase a flood insurance policy, you may:
- Contact your local insurance agent;
- Call the FEMA toll-free number, 1-800-427-4661, to request the name of an insurance agent in your area who sells flood insurance; or
- Visit our web site at www.fema.gov/business/nfip/wyo.shtm and click on "Write Your Own companies" for a list of insurance companies that offer flood insurance in your State.
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What are the "grandfathering" rules of the National Flood Insurance Program?
To recognize policyholders who have either built in compliance with the flood map and/or remained loyal customers of the National Flood Insurance Program by maintaining continuous coverage, the Federal Insurance Administration has "grandfather" rules. These rules allow such policyholders to benefit in the rating for that building. For such buildings, the insured has the option of using the current rating criteria for that property or having the premium rate determined by using the Base Flood Elevation and/or flood zone on the old map in effect when the building was originally constructed (for those built in compliance) or when coverage was first obtained (for those with continuous coverage).
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Can County residents qualify for "grandfathered" insurance rates if they purchase flood insurance now?
- If owners of structures built before May 14, 1970, purchased flood insurance before the flood map became effective on April 20, 2000, the National Flood Insurance Program "grandfathering" rules would apply, as long as continuous coverage is maintained and the policy was rated correctly against the flood hazard map that was in effect at the time of construction.
- For owners of structures built in compliance with floodplain management regulations in effect since May 14, 1970, and before the flood map became effective on April 20, 2000, "grandfathering" rules allow the use, for flood insurance rating purposes, of the flood map in effect at the time of construction.
- Insurance premiums would be determined based on the Program status of the County at the time the structure was built, in addition to several other factors, such as the amount of coverage purchased and the location, age, occupancy, and design of the affected building.
- If a homeowner does not maintain continuous coverage, the flood insurance premium rate charged when a policy is reissued would be based on the flood map in effect at the time of reissuance.
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Last Modified: Friday, 01-Dec-2006 15:09:59 EST