News
Prepare For FEMA Flood Hazard Map Changes
MIDDLETOWN - Despite a formal appeal by Middletown, the Federal Emergency Management Agency's modified flood hazard map will become effective on September 25, 2009. The modifications will require some property owners to obtain flood insurance and the township to modify local regulations.
The map, also known as a flood elevation map or a Flood Insurance Rate Map (FIRM), shows areas that have a one percent annual chance of severe flooding. While much of Middletown remains unchanged one area, primarily North Middletown from Rt. 36 to the Raritan Bay, will now be included in a flood hazard area. Formal appeals filed by both Middletown and Monmouth County produced no significant changes to modifications proposed by FEMA in May 2008.
As of September 25, property owners will likely need flood insurance as a condition of their mortgage. Flood insurance rates are determined using many factors, including the date and type of construction, location within the flood hazard area and, in some cases the actual elevation of the structure, explained Township Administrator Anthony Mercantante.
A cost-effective way to address the coming requirement is to have a Preferred Risk Policy (PRP) in place before map modifications take effect. PRPs are issued for structures not currently in a flood hazard area. Property owners who take this route are 'locked' into having the policy rated by an insurance agent using a lower risk zone upon renewal. The PRP rate remains in effect until the policy's first renewal date. Property owners who obtain policies after September 25 lose the ability to obtain a lower risk insurance rating. It is recommended that polices be obtained 30 days prior to map becoming effective.
