Flood Insurance- Can It Go Away?

[Jake Handler]

Unsure if this is universal or more on a local level (I'm in North Jersey if it matters), but is it possible to graduate from flood insurance?  In other words... can the property get re-assessed to determine flood insurance is no longer  needed?  If so, how do you go about that?

Thank you very much in advance.

[Kathy Henley]

@Jake 

@Jake Handler Highly unlikely. FEMA weighs the risks using real data, like river flow and where flooding occurs. It considers run-off and ground makeup. It also considers community input BEFORE maps are published. It would be during this period that your land owner's voice might be heard. But unless the flow or runoff has changed, the house in the flood plain may have flooding, as expressed on the FEMA maps. Lenders use the maps to determine those that need extra insurance.