My ABFE is 10, does that mean I have to raise my house up 10 feet?
No, your ABFE number is the height above sea level to which flood water would be expected to rise in a base, or 100-year flood event. Keep in mind, the ground is not zero. If the ground around your home is at base 3′ and your first floor is 2′ off the ground, that would mean your first floor is currently at 5′ and you need to go up another 5′ to be at the Advisory Base Flood Elevation of 10'.
Do I have to elevate my home?
In 2013, Department of Environmental Protection (DEP) issued a mandate requiring homeowners to elevate their homes and/or meet new construction standards if the house is located in a flood zone AND was declared substantially damaged during Superstorm Sandy. Homeowners have no legal obligation to elevate if their home was not declared substantially damaged or is not in a food zone.
I heard that flood insurance rates will become unaffordable. Is this true?
The National Flood Insurance Program (NFIP) is in the process of implementing Congressionally mandated reforms required by the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) that repeal and modify the Biggert- Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). The new law slows some flood insurance rate increases and offers relief to some policyholders who experienced steep flood insurance premium increases in 2013 and early 2014. Flood insurance rates and other charges will be revised for new or existing policies beginning on April 1, 2015. In addition to insurance rates, other changes resulting from Biggert-Waters and HFIAA will be implemented that will affect the total amount a policyholder pays for a flood insurance policy.
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