Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
Learn about A flood zones, V flood zones, Long Beach Island and the LBI NJ real estate market. Knowing your flood zone is very important when determining flood insurance rates after Hurricane Sandy. Different flood zones have different requirements which can impact the cost of flood insurance
FEMA has released a helpful address look up too. This will tell you your planned BFE and the flood zone in which your home is located.
There are three flood zones on Long Beach Island. They are:
Most of Long Beach Island is in the “A” flood zone. Homes in the “A” zone will typically see lower rates, as they are considered to be less risky. The “V” zone is considered to be one of the worst zones, as it runs the risk of sustaining a direct wave impact of 3 feet or higher (according to FEMA). Therefore, flood insurance rates tend to be higher in a “V” zone as compared to the “A” zone. There are strict building codes that must be followed when building in the “V” zone. Typically, ‘V” zones are limited to the oceanfront and some bayfront areas. The “X” zone is the best zone to be in on LBI! Homes in the “X” zone may not require flood insurance as they are considered to be “safe”. These areas tend to be on the oceanside in South Beach Haven and suffered no damage from Hurricane Sandy.
The federal government, which determines flood rates and flood zones on Long Beach Island, has performed a major revision of the flood zones, and this revision is where many questions arise. There are two major zones to consider. Flood Zones: “ A” and “V”. If your property is in an “A” zone, which the majority of Long Beach Island is, typically one can anticipate lower rates and less restrictive building restrictions than the “V” zone. If your property is located in a “V” zone, there are a few points to consider:
If your property was located in an “A” zone, and has now been redrawn to a “V” zone, AND the property sustained substantial damaged, you must adhere to these new building guidelines, or be exposed to higher flood insurance.
A “V” flood zone is considered to be an area of higher risk. Therefore, flood insurance rates tend to be higher in a V zone as compared to an A zone. Likewise, there are building restrictions and additional methods that are recommended to safeguard the house. It is very important to understand New Construction in a V Zone on Long Beach Island NJ but in short homes but be built higher, with breakaway walls and, to achieve the best rate, built without enclosures below the structure. When building in an A or a V zone, both FEMA and the towns have established a minimum required height, often known as the BFE (Base Flood Elevation) however building higher than the BFE will lower both the flood insurance premium on LBI as well as future flood risk in general. A helpful example is offered by FEMA’s to demonstrate how by building higher, the flood insurance rate (premium) on Long Beach Island will drop significantly
This is a savings of almost $6,800/ year on flood insurance on Long Beach Island NJ!
Rebuilding in an A Zone on Long Beach Island NJ after Hurricane Sandy offers a very similar situation as building in a V zone however it is important to note that flood insurance rates are generally less expensive and building codes are more relaxed. Using the same scenario as above, FEMA’s estimates are as follows: