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Started By
Message
Flood insurance -- new map puts me in Zone X, previously Zone A
Posted on 4/10/16 at 12:17 pm
Posted on 4/10/16 at 12:17 pm
Central funded a floodplain study a few years ago, and it was recently announced that FEMA approved the results of the study and issued a Letter of Map Revision (LOMR). The study concluded that the maps from 2008-ish were inaccurate, and over 1,000 homes in Central were moved from Zone A to Zone X, including my home. I've paid thousands in flood insurance over the years for coverage based on an inaccurate flood risk. $3,800 premium in June last year.
I'm sure I'll never see any of that money again, but I am wondering about my upcoming premium in June. The LOMR was issued in March, but there's a 90-day period where citizens can dispute the new maps, until they take effect in July 2016 (I can't imagine there will be any dispute, considering it does not negatively impact any resident).
Will I still need to pay my premium in June and then go through what I imagine will be an unnecessarily long/annoying process to get a refund from FEMA one month later? I've already faxed a letter to my mortgage company asking for a new flood map determination for my home, as well as confirmation that I no longer need flood insurance. But I found all this out on Friday, so of course I've had to wait the weekend to actually talk to someone about it. Curious if anyone else here has had experience with it.
I'm sure I'll never see any of that money again, but I am wondering about my upcoming premium in June. The LOMR was issued in March, but there's a 90-day period where citizens can dispute the new maps, until they take effect in July 2016 (I can't imagine there will be any dispute, considering it does not negatively impact any resident).
Will I still need to pay my premium in June and then go through what I imagine will be an unnecessarily long/annoying process to get a refund from FEMA one month later? I've already faxed a letter to my mortgage company asking for a new flood map determination for my home, as well as confirmation that I no longer need flood insurance. But I found all this out on Friday, so of course I've had to wait the weekend to actually talk to someone about it. Curious if anyone else here has had experience with it.
7
Posted on 4/10/16 at 12:20 pm to ILikeLSUToo
X marks the spot
Posted on 4/10/16 at 12:25 pm to ILikeLSUToo
I had a surveyor come check my shite a couple of weeks ago, and my area went from X to AE 
Posted on 4/10/16 at 12:29 pm to ILikeLSUToo
What areas of Central?
Posted on 4/10/16 at 12:38 pm to RealityTiger
quote:
What areas of Central?
Seems to be all over. Here's the notice and LOMR with new maps: LINK
quote:
The following is a comparison from the existing and proposed flood risk areas:
- Greater than 1,216 parcels decrease in the Base Flood Elevation – creating the potential for Flood Insurance Rate Savings when a property is rated based on risk.
- Greater than 2,380 parcels have a zone change from AE (high risk) to X (reduced risk).
Would be nice to get a refund for the inflated premiums I've paid for years.
This post was edited on 4/10/16 at 12:39 pm
Posted on 4/10/16 at 1:02 pm to ILikeLSUToo
Yeah, you are not going to get a refund. You paid for insurance and you got it. If it flooded, you would have been covered. I understand you were forced, but it isn't like you paid for something you didn't get
Posted on 4/10/16 at 1:08 pm to HeadyMurphey
I figured not, but my focus is on the upcoming premium. Obviously, I'd get a refund for that if I have to pay it and wait for July, but I'm wondering if I actually have to wait for July and could just avoid paying the premium.
Although, it does not appear to be unprecedented to receive a refund for past premiums, but those seem to be the result of using the wrong map to begin with, vs. maps being corrected as a result of an update.
Although, it does not appear to be unprecedented to receive a refund for past premiums, but those seem to be the result of using the wrong map to begin with, vs. maps being corrected as a result of an update.
This post was edited on 4/10/16 at 1:11 pm
Posted on 4/10/16 at 1:15 pm to ILikeLSUToo
Any way to pay month to month? In the document you linked, there is mention of a refund, but I didn't read all the criteria as it doesn't affect me.
Posted on 4/10/16 at 1:23 pm to HeadyMurphey
Can't pay flood premiums in installments. My main goal is stop the escrow payments. My flood premium skyrocketed from 1200 to 3800 in a single year. It put my escrow in the negative of course, and so starting first of this year, my mortgage company tacked on an extra $500 a month to get my escrow back to an appropriate level and pay the upcoming premium, in addition to raising my normal escrow payments by $300-ish based on the estimated premium. So, I'm suddenly paying an extra $800 a month. Would be nice to put a stop to that shite immediately and adjust those payments to exclude flood insurance.
This post was edited on 4/10/16 at 1:37 pm
Posted on 4/10/16 at 2:07 pm to ILikeLSUToo
quote:
process to get a refund from FEMA one month later?
Posted on 4/10/16 at 2:27 pm to ILikeLSUToo
Just because you land in zone x based on a map revision does not mean you are sunk.
You can get a survey company to survey your slab elevation and submit a LOMA to FEMA to get out of the flood zone.
This happened to about 10 houses in my subdivision when they changed the maps a few years ago. We got a surveyor to give us a group deal and it ended up costing a few hundred each.
It is certainly a selling point to not have flood insurance required.
You can get a survey company to survey your slab elevation and submit a LOMA to FEMA to get out of the flood zone.
This happened to about 10 houses in my subdivision when they changed the maps a few years ago. We got a surveyor to give us a group deal and it ended up costing a few hundred each.
It is certainly a selling point to not have flood insurance required.
Posted on 4/10/16 at 2:29 pm to ILikeLSUToo
The street I grew up on is in a flood zone. Which is interesting, because our street, yard and house didn't flood in the 80's when we had several of the big flood events.
Posted on 4/10/16 at 2:30 pm to AndyCBR
quote:
Just because you land in zone x based on a map revision does not mean you are sunk.
That's not the issue at all... Zone X unshaded = "Area of minimal flood hazard, usually depicted on FIRMs as above the 500-year flood level. Zone X is the area determined to be outside the 500-year flood and protected by levee from 100-year flood."
This post was edited on 4/10/16 at 2:31 pm
Posted on 4/10/16 at 3:11 pm to ILikeLSUToo
Send Letter of Map Revision to Escrow Department at your lender/servicer. If it's electronic, you're covered and can bill goat them via customer service with proof of when you submitted evidence of the first moment of unnecessary insurability due to the LOMR.
If you have to fax it, same deal. Confirmation page gives you proof.
If you've gotta mail it....well...WTF is your mortgage with if you have to mail it?
No refund but you can prove you didn't need subsequent coverage from the effective date of the LOMR which can prevent ongoing/future escrow issues and potentially get you reimbursed if they pay it in advance in error.
If you have to fax it, same deal. Confirmation page gives you proof.
If you've gotta mail it....well...WTF is your mortgage with if you have to mail it?
No refund but you can prove you didn't need subsequent coverage from the effective date of the LOMR which can prevent ongoing/future escrow issues and potentially get you reimbursed if they pay it in advance in error.
This post was edited on 4/10/16 at 3:13 pm
Posted on 4/10/16 at 3:20 pm to GFunk
quote:
Send Letter of Map Revision to Escrow Department at your lender/servicer. If it's electronic, you're covered and can bill goat them via customer service with proof of when you submitted evidence of the first moment of unnecessary insurability due to the LOMR.
Ok, got that covered. I sent it via fax (which is really annoying, too. Had to sign up for an online fax service). So basically, given that my premium is due a month before the LOMR effective date, I'll end up having to get a refund?
I also considered calling my insurer and canceling the flood policy and waiting for my mortgage company to tell me I don't have sufficient coverage, just to prevent them from autopaying (I know they'll acquire the insurance themselves, but they'll give me 30 days to comply first, which will buy me enough time to ram it down their throats that I don't need it). I don't particularly like or trust this company to be on top of things. It's Carrington Mortgage Services, some LLC based in California. Chase sold my mortgage to them a few years ago.
This post was edited on 4/10/16 at 3:22 pm
Posted on 4/10/16 at 3:22 pm to ILikeLSUToo
Maps change.
You should still purchase flood insurance.
Developers commonly add fill to A10 lots. That alone will change your risk.
You should still purchase flood insurance.
Developers commonly add fill to A10 lots. That alone will change your risk.
Posted on 4/10/16 at 3:30 pm to ILikeLSUToo
May not be a whole lot that can be done, but you should absolutely bring this to a lawyer.
Posted on 4/10/16 at 3:39 pm to ILikeLSUToo
quote:
That's not the issue at all... Zone X unshaded = "Area of minimal flood hazard, usually depicted on FIRMs as above the 500-year flood level. Zone X is the area determined to be outside the 500-year flood and protected by levee from 100-year flood."
Perhaps I am confusing the terminology. In my case we went from not being required to have flood insurance to being required to just because the map changed.
For us, in our case, the LOMA protested FEMA and our property will not require flood insurance.
If this doesn't apply to you then please disregard.
Posted on 4/10/16 at 3:46 pm to RealityTiger
quote:
The street I grew up on is in a flood zone. Which is interesting, because our street, yard and house didn't flood in the 80's when we had several of the big flood events.
The MS folks always said if you didn't flood in 69 during Camille you'll never flood
Posted on 4/10/16 at 4:08 pm to ILikeLSUToo
quote:
ILikeLSUToo
quote:
an extra $500 a month to get my escrow back to an appropriate level and pay the upcoming premium
FYI, this happened to me as well, my mortgage company was able to finance my shortage over 18 months (could go up to 36 months) so it's not such a huge hit on your monthly note.
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