FEMA gets Keys input into new flood maps used to set insurance premiums – Florida Keys Keynoter

Florida Keys Keynoter
FEMA gets Keys input into new flood maps used to set insurance premiums
Florida Keys Keynoter
“The old maps tell you whether you’re in [a flood zone] or out,” said project manager Mark Vieira, a FEMA engineer.

Source: www.keysnet.com

It’s all about risk. You buy a home and trade off it’s location, such as close to the beach, or in a plain, based on the features and benefits, oh and by the way there is a one in a hundred year risk of flood.

 

This is one of the things I talk about in my December 2013 book ‘Buying a House Using Real Estate Apps, Maps and Location Based Services.’

 

Who is the most risk averse, you as the house owner, the council who drew up the flood maps, or the insurance company if your house ends up underwater? I go with the insurance company, their profit and your premium tell the story of what they think the risk is, which is why the do so much map based risk analysis. If my longevity as a human being could be lengthened by the ratio of hundred year storms or floods that have hit some areas during a person’s lifetime, call me Methuselah.

 

Does that mean you should panic, or not buy? No it doesn’t, but if you are buying in an area where there might be risk, start with your council’s flood risk maps (including tsunami) and whether water has ever reached inside your property. If that still leaves you uneasy, get some quotes before you buy a house and let them know why. They don’t want the risk any more than you do.

See on Scoop.itLocation Is Everywhere

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About Luigi Cappel

Writer for hire, marketing consultant specialising in Location Based Services. Futurist and Public Speaker Auckland, New Zealand
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