Will Flood Insurance Rates Go Down With the New Flood Maps?

Photo Credits: The New Orleans Advocate
Photo Credits: The New Orleans Advocate


It’s been a long time coming but FEMA has finally released the new flood maps for New Orleans (Jefferson Parish and St Bernard Parish will have to wait a bit longer for their final maps).

Many homes and businesses located in standard flood zones will be now located in a preferred flood zone -X zone- and and should see a drop in premium.

Properties in X zones typically are not required by mortgage companies to carry flood insurance but it is still highly recommended that flood insurance be purchased regardless of your zone.

Unfortunately for many residents in Algiers, our stomping grounds, they’ll see their properties move to flood zones.

Here’s a link to the map so you can see if your zone is changing:

Final New Orleans Flood Map

Proposed Jefferson Parish Flood Map

Proposed St. Bernard Parish Flood Map


NFIP Raises Rates


Ironically enough  NFIP (National Flood Insurance Program) announced a rate increase on flood insurance premiums and fees effective April 1 on new policies and later in the year for renewal policies.

The increase varies based on when your property was built and whether it is a primary or non-primary residence.


Will your overall flood insurance premium go up or down?


Unfortunately there is no way of telling what your premium will do.  You’ll just have to wait for your renewal.

Overall though for most property owners in New Orleans we anticipate premiums will go down, although many will find themselves paying more and being forced to buy a policy for the first time.

Read more here from the Advocate.


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