The Federal Emergency Management Agency (FEMA) presented Hawaii’s four counties with Hurricane Study analyses last year and is updating the Flood Insurance Rate Maps to reflect the study’s results. You may view the preliminary maps now.
Owners should be aware that if the new maps change their property’s flood zone designation, their flood insurance requirements may change as well. The insurance outcomes may be mandatory, optional, or no change.
Very, very important: a grandfathering rule allows owners to maintain their current flood insurance rating prior to the new maps becoming effective. FEMA published a fact sheet Understanding Flood Map Modernization which briefly explains the grandfathering rule and the options it offers property owners to reduce their flood insurance costs.
Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
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