Sioux Falls flood zone map changes will take effect on September 2, 2009.
As your trusted advisor, we feel it is important to provide Sioux Falls residents a brief overview about the Federal Emergency Management Agency’s (FEMA) changes to the federal flood zone map. The changes are broad and may directly influence flood insurance coverage requirements for renters, homeowners, and businesses with property located in the soon to be revised zones. Therefore, we urge you to review the revised map to determine how, or if, the changes pertain to you and your property.
We understand flood insurance can be expensive so as a courtesy, we want to provide you information that may save you money. The new flood zone changes, and their associated insurance rates, will take effect on September 2, 2009. If you are required to carry flood insurance, you may qualify for a lower rate structure if purchased at least thirty (30) days before the changes take effect. To begin the qualification process, you must contact your flood or property insurance agent and submit a written request.
All banks are required to monitor current flood maps and require proof of insurance coverage for personal and business real estate loans secured by property in a flood zone. Any loan serviced by Home Federal Bank or another financial institution secured by property located in a flood zone as of September 2, 2009, will require proof of flood insurance coverage.
For additional details, information and to view the updated FEMA flood map, we encourage you to visit the following websites:
You may also contact the National Flood Insurance Program at 1-888-379-9531, the Sioux Falls Zoning office at 367-8254, or your insurance agent for additional information.
Equal Housing Lender.