Next week, Flood Insurance Rate Maps for 2008 will be unveiled for Miami-Dade; some changes could bring savings - or higher costs - for some homeowners. The boundaries of about 42% percent of the flood zones have been changed throughout the county, which includes part of the Everglades national Park and other federal and state lands. The most notable change: 34 percent of the Special Flood Hazard Areas (also known as SFHA, where flood insurance is required by lenders). It will change from a high-risk (AE zone) to a low or moderate-risk (AH zone). Affected homeowners should benefit from a reduction in their flood insurance premiums.
Other changes include:
- 4 percent of SFHAs changed to low-risk X zones
- 2 percent changed from X zones to SFHAs
- 2 percent of SFHAs now have higher elevation requirements, which could result in higher flood premiums
The maps will be released in a series of countywide workshops, starting Tuesday, February 19th from 4 to 7 pm at South Dade Regional Library, 10750 SW 211 St., Cutler Bay.
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