RESCINDED — Flood Insurance Rate Maps To Become Effective June 16, 2011

RESCINDED THESE MAPS WERE RESCINDED AND NOW HAVE BEEN SUPERSEDED

The final set of Flood Rate Insurance Maps have been received.  These maps will become effective on June 16, 2011  The maps are by following the links noted below.

The Planning Board and Zoning By-law Study Committee reviewed a proposed zoning change intended to be brought to Town Meeting at the February 7, 2011 joint meeting.  I will post the text of this new zoning amendment as soon as I make the edits they asked for.

The new Effective June 16, 2011 FIRM Maps :

0390

0393

0394

0413

0576

0577

05790581

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0587

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0591

0592

0593

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0611

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2 thoughts on “RESCINDED — Flood Insurance Rate Maps To Become Effective June 16, 2011

  1. Catherine Nelson Allen

    Hi Dan—will flood insurance be required by law for Chases Ocean Grove residents?
    Peter and I already have flood insurance. Are we grandfathered in? How does this work?
    Thanks in advance,
    Catherine

  2. Daniel Fortier Post author

    There are about a dozen cottages at Chase’s Ocean Grove that appear to be within the flood zones. These will require flood insurance if they carry a mortgage. Essentially, flood insurance is required to receive a government backed mortgage. Multi-unit properties, with different owners might want to consider requiring the owners to all carry flood and other insurance for a variety of reasons. For instance, at the Grove, while not all of the property falls within the required areas, much more of the property has experienced flooding than the maps might suggest. If a cottage is severely damaged in a flood, having insurance will allow for a smoother re-build than might occur without insurance. This is pretty much the same as in case of a fire, but more people carry regular homeowners insurance than carry flood insurance.

    As one who has it already, your rates should be protected as a grandfathered property. If you were not in a flood zone, and now are, your rates would be lower than for someone who buys new, now that the flood zones are being finalized. I do not know what level of discount you receive for having it early, but understand it is substantial.

    Dan

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