Let’s Talk About Flood Zones!
Fun fact: Despite much of the chatter, every home is in a flood zone so it’s important to know what zone your home is in. While it’s best to have this conversation with your favorite insurance agent, here’s a summary of the most common flood zones in The Lowcountry.
Flood Zone X
Area of moderate flood hazard, usually between the limits of the 1% annual chance flood (base flood or “100 -year flood”) and the 0.2% annual chance flood (“500 -year flood”) event. This is the zone most commonly referred to as ‘not being in a flood zone’ because a FEMA flood policy is not required but, as we all know down here, there is always a chance of water going where it’s no supposed to go.
2% Flood Zone
A 2% flood zone, also known as a 500-year floodplain, has a 0.2% chance of flooding in any given year. This means that there is a 1 in 500 chance of a flood of that size or greater occurring in a given year. Flood insurance is not required by FEMA but some lenders may require it and is highly encouraged.
Flood Zone AE
Areas subject to inundation by the 1-percent-annual-chance flood event determined by detailed methods. Base Flood Elevations (BFEs) are shown. Mandatory flood insurance purchase requirements and floodplain management standards apply. An elevation certificate will be required to purchase a flood policy as the base height of the lowest floor makes a big difference in how a policy is priced.
Flood Zone VE
A home in a VE flood zone, or Coastal High Hazard Area, is located in a high-risk coastal community that’s vulnerable to extensive damage from fast-moving water and wave action during a flood. The “V” in VE stands for “velocity” and refers to the speed of incoming storm waves. These areas have a 1% chance each year of flooding to the base flood elevation (BFE), which can be as high as 14 feet and varies by location. These are usually beach front homes and the flood policy is a sizable investment.
Where Can You Find Your Flood Zone?
Your favorite real estate agent at Rainbow Row Real Estate can quickly find out your flood zone. Also, you can access the FEMA Maps at MSC.FEMA.GOV/PORTAL/HOME and your favorite insurance company can also pull up your flood zone. It’s important that you utilized a licensed insurance professional to accurately quote a flood policy and to always seek the best information available.