![]() ![]() Remember homeowners insurance does not cover damage from floods. Fortunately, now being mapped in an area at lower risk, the rate you pay for flood insurance may be lower. Please be advised that your lender still retains the right to require flood insurance as a condition of your loan. You will no longer be required by Federal law to maintain flood insurance when the flood maps become effective on November 4, 2016 If you have a mortgage from a Federally-regulated or insured lender and the new flood maps show your property outside the floodplain, If you do not have a mortgage, you are not required to purchase flood insurance however the floodplain designation could be a potential issue for any future sale of your property. Contact your insurance agent to learn about lower cost options offered by the NFIP for newly-mapped properties. Flood insurance is available through FEMA’s NFIP at This requirement will take effect when the new flood maps become effective on Novemand you will likely be contacted by your lender to purchase flood insurance within 45 days. Then by Federal law your lender must require you to carry flood insurance ![]() If you have a mortgage from a Federally-regulated or insured lender and there are buildings on your property within the 100-year floodplain, The new maps will be available electronically on FEMA’s Flood Map Service Center atĪnd allow users to see the flood risk specific to their property. Floodplain maps, also known as Flood Insurance Rate Maps, provide the basis for floodplain management, regulation and insurance requirements by identifying flood-prone areas. These revisions will affect approximately 1,500 properties within Minnetrista. As part of this study, FEMA revised floodplain boundaries throughout the county. FEMA is in the final stages of updating the Flood Insurance Study for Hennepin County, effective November 4, 2016. By participating in the NFIP, residents of Minnetrista have the option to purchase flood insurance to protect their property from flood damages. The City of Minnetrista has been a member of the National Flood Insurance Program (NFIP) since 1985. The maps are used to determine insurance rates, who is required to buy insurance, and to guide local governments with floodplain and development policies. The Federal Emergency Management Agency (FEMA) is currently updating its flood risk maps in Hennepin County. ![]()
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