Flood Maps 2.0 - Map Change Scenarios
Because rates will be higher and the insured’s property is now at an even greater risk for flooding, check with the NFIP for options that may help save on insurance if a policy is purchased or current coverage is maintained before the map change occurs.
Map Changes: from High Risk to Higher Risk
Change in risk
The property is now at an even higher risk for flooding. Flood insurance is mandatory for holders of mortgages from federally regulated and insured lenders, and encouraged for all others with structures in these high- and higher-risk flood zones.
Rate impact
Property owners can grandfather the lower-risk zone or BFE for future rating by purchasing a policy before the maps become effective and then maintain their coverage. Policyholders must maintain continuous coverage to qualify for a more affordable rate.  The lower BFE or lower-risk zone is applicable when the structure was built and can be grandfathered and used for rating if the new maps are already in effect. Grandfathering” is available for property owners who already have flood insurance in effect when new flood maps become effective and then maintain continuous coverage or have built in compliance with the FIRM in effect at the time of construction.  For more information on grandfathering and continuous coverage, please see NFIP Grandfathering Rules for Agents.
Agent Alert

A policy with a grandfathered rating can be transferred, under certain criteria, to new owners if the building is sold.

Grandfathering is an exemption based on circumstances previously existing that may result in eligibility for subsidized flood insurance rates.