Newly drawn maps could affect homeowners' insurance policies

Search news

Newly drawn maps could affect homeowners' insurance policies

March 25, 2010 - Individuals who are planning on moving may want to find out whether or not their new homes are located in flood zones, as the Federal Emergency Management Agency (FEMA) has recently redrawn the maps that determine which areas are at a high risk for flooding.

The Minneapolis Star Tribune reports that FEMA has completed a $1 billion initiative to reexamine certain areas and classify them as flood-risk regions, which could affect the amount of some people's homeowners insurance plans. While some real estate owners may need to pay for additional coverage, others may be able to cancel their flood insurance policies.

Although flood insurance can add hundreds or thousands of dollars to annual bills, it could end up saving homeowners a great deal in the long term. Floods have caused approximately $24 billion in damage in the U.S. over the past 10 years.

Homeowners who live in a regulatory floodplain and have obtained a mortgage from a federally regulated lender are required to have a flood insurance policy, Insurance Corner reports.

Recent Articles

Actor Hayden Christensen selling Studio City pad

Star Wars fans may be surprised to hear Anakin Skywalker, also known as actor Hayden Christensen, may be calling for a moving company and selling his house in Studio City.

Friday, October 05 2012 15:15

Former pro baseball player Reggie Sanders selling SC beach house

Reggie Sanders list of properties is almost as extensive as his list of teams, however, he appears to be unloading homes across the country.

Thursday, October 04 2012 13:25

Hollywood couple John Krasinski and Emily Blunt buy in LA

Celebrity news sites report actor John Krasinski and actress Emily Blunt may be comparing prices of moving companies around Los Angeles, as they have purchased a home in the affluent city of Ojai.

Wednesday, October 03 2012 13:25

Tips for prepping to move cross-country

When relocating across the country, those moving may need to take some extra steps for a more successful relocation.

Wednesday, October 03 2012 13:24

Singer Sheryl Crow moving out of Hollywood Hills home

The Grammy-winning singer Sheryl Crow has been buying and selling homes throughout the country, as she currently owns a waterfront home in Florida and recently purchased a large ranch-style home in Nashville, Tennessee, just last year.

Wednesday, October 03 2012 13:22

Related Categories

Homeowners Insurance News

Good price for homeowners insurance in Ohio
In these difficult economic times, people may try not to spend more money than they have to.

Tuesday, December 07 2010 23:15

Insurance a smart idea for tenants
Those moving into apartment would be well advised to protect themselves with renters insurance.

Tuesday, November 23 2010 12:53

Job loss insurance for homeowners
In this tough economic climate, people may not want to be forced into the moving process.

Saturday, October 23 2010 01:49

Considering homeowners insurance in flood-prone area
With the recent flooding that occurred in Georgia, some residents may be considering supplementing their homeowners insurance with flood insurance, especially if they are moving to an area known for the natural disaster.

Wednesday, October 06 2010 17:50

Homeowners insurance a key concern for movers
<a href="http://www.relocation.com/moving/">Moving</a> entails many important steps, but securing a good insurance policy might be chief among them.

Friday, September 10 2010 16:33

1 Week Before Your Move

Apartment Decorating Tips: Cheap Ways to Spruce Up Your Pad

10 Questions to Ask Before Hiring a Cleaning Service

Auto Insurance: What You Need to Know

After the Offer: What You Should Ask Yourself

Relocation.com
In the Press

A Moving Company's Moving Story
June, 2012

Relocation.com's survey was recently featured on the front page of USA Today. The headline entitled "Moving in Hard Times" highlighted our results that moving and relocating behaviors were only moderately influenced by the economy.

Our lifestyle survey found that Americans are seeking smaller homes and a suburban lifestyle. These riveting results were recently featured on USAToday.com in an article entitled "American dream shrinks as smaller homes gain favor."

"This user-friendly site includes a blog and a subscription-only newsletter, too"

"Relocation.com provides you with all the tools you need to get quotes quickly from movers in your area."

The more you know, the better your move will go. Check out helpful articles by our pros.