Thanks to McGriff Williams Insurance for sending out a wonderful e-newsletter regarding the Flood Insurance Changes that will affect Gainesville and Alachua County. You might want to keep track of insurance issues on their blog too!
What do these flood insurance changes mean for Gainesville / Alachua County?
Of the 112,766 housing units in Alachua County, only 2,934 (2.6%) have flood insurance policies. Of the houses in Alachua County with flood insurance policies, only 328 of them are subsidized.
- Sell the property
- Allow the current flood insurance policy to lapse
- Suffer severe, repeated, flood loses; or
- Purchase a new flood insurance policy for the property
If you have a subsidized flood insurance policy and receive a bill at policy renewal, pay your bill as you would normally do to continue your flood insurance coverage. If you have a flood insurance policy and receive a letter from FEMA asking you to obtain an elevation certificate, additional information is required to accurately rate your property (i.e. elevation certificate, photos, etc.).