Evansville Change in Flood Zones

[Account Closed]

I wanted to pass along some important info I ran across a couple of days ago.  It appears that there will be a change to flood zones in Evansville and Vanderburgh County.  There was public comment yesterday (here's blog post on the city website)

https://www.evansvillegov.org/city/department/division.php?structureid=155

...and here's a link to the interactive map where you can type in your rental address and zoom in or out...

http://evvc.maps.arcgis.com/apps/View/index.html?appid=991cf4a29bef4616bb200b49724a42eb

I have a rental that is going from a Zone X to a .2 Percent chance of flooding.  I purchased a flood policy today (there is a 30 day waiting period after applying for a policy) so my insurance will take effect April 1.  The Feds still recognize my rental as a Zone X so the policy will be less expensive this year (prior to the Feds reflecting the change).  Remember, the wettest month is usually May and the flooding is already going on...

I am out of State and figured other out of state investors would want a heads up.  I also notified my property manager as I'm not sure she was aware of the changes proposed either.

[Derek Lacy]

Ed E.

Even better news. If you keep your X flood policy, you will stay at X rates. But don’t let it lapse for one second. Also don’t purchase private flood or you lose it too.

You can also transfer the grandfathering to the new owner. But it’s a tricky process.

Good luck.