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Once you provide a copy of the map revisions to your lender they will likely no longer require you to buy flood insurance.  However, you should still consider a preferred policy. Remember, water has no boundaries; it doesn’t stop where the lines are drawn on a map. In fact over 20% of flood claims occur in non-high risk areas. So your property and possessions could still be at risk.

Recommended steps to reduce your flood insurance premium:

Step 1

Once new maps are adopted, notify your lender and request a letter of release.

Step 2

Provide letter of release to your insurance agent and request to cancel policy.

Step 3

Talk with insurance agent to determine if a Preferred Rate policy is right for you.