If you live in a high-risk flood area and have received federal disaster assistance – including grants from the Federal Emergency Management Agency (FEMA) or low-interest disaster loans from the U.S.While flood insurance is not federally required if you live outside of the high-risk area, your lender may still require you to have insurance.Homes and businesses in high-risk flood areas with government-backed mortgages are required to have flood insurance.These benefits are evident in participating communities and collectively nationwide. This earns reductions in our residents' flood insurance premiums, resulting in more affordable flood insurance.īy applying a whole community approach to floodplain management, the CRS contributes to community resilience, increased insurance coverage, public safety, and the protection of floodplain natural functions. Through the CRS, Merriam is undertaking floodplain management activities that exceed the minimum NFIP floodplain management requirements. Merriam participates in the Community Rating System (CRS), which is a voluntary program of the NFIP. Regulating floodplain development helps keep flooding conditions from getting worse as development continues. Floodplain development regulations are simply a “good neighbor” policy designed to protect our residents from future flood losses. And, even when the President declares a disaster, your community still has to pay a portion of repair and clean up costs and could also incur some evacuation expenses. Remember, federal disaster assistance doesn’t kick in for all floods. If we build smart, we’ll have fewer problems the next time the river rises. Every time you hear about a flood disaster, think about what it means to the town’s budget. To participate in the NFIP, Merriam must adopt floodplain maps, ordinances, and controls. The National Flood Insurance Program (NFIP) provides flood insurance policies that businesses and homeowners purchase through their local insurance agent. If your home or business is in the floodplain and federal flood insurance isn’t available, you may not be eligible for some federal business loans and grants or for some types of federal financial assistance. ![]() Make sure that federal flood insurance is available.If we know low lying land will flood from time to time, we should make reasonable decisions to help protect our families, homes, and businesses. Floodplain management is about reducing vulnerability to flood risk to our built environment. Floodplain management occurs in order to:
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