2014 Flood Information Update For Long Beach Township New Jersey
Long Beach Island and Flood Insurance
For the first time in recent memory, Hurricane Sandy brought to everyone’s attention the impact a major storm can have on the Long Beach Island area. While it is true that LBI has suffered storms and floods in the past (1992, 1962, 1944), Hurricane Sandy has created a number of changes to the Long Beach Island area. Each of the six municipalities on LBI have their own guidelines however there are many similarities with Long Beach Township Flood Insurance Information. Click here to search all homes for sale in the Long Beach Island NJ real estate market
Long Beach Township Flood Insurance Information
Long Beach Township participates in a “Community Rating System”. This, along with other measures, helps to provide homes in Long Beach Township with a discount on their flood insurance. As a part of the participation in the Community Rating System (CRS), as of October 1st 2013 Long Beach Township receives a 25% discount on flood insurance for homes located in the municipality. There are a few important pieces of information that residents in Long Beach Township should be aware of such as:
- Flood Hazard Zones
- Permits and Substantial Damage Letters
- Property Protection
Flood hazard zones are designated by FEMA and are designed to give some insight as to where flood waters are expected to reach during a 100 year storm such as Hurricane Sandy. Long Beach Township is, like most barrier island, at different flood elevations in different parts of the Township. The ocean side and oceanfront areas tend to be highest with natural ground elevations of 16-20 feet whereas there are bayside areas that are only 3-4 feet. Specifically, there are some low areas in North Beach Haven, Beach Haven Terrace and Beach Haven Crest
Permits are required for most work completed in Long Beach Township including major renovations, curbing and additions to the structure. In addition, if a house was damaged by Hurricane Sandy it could be at risk for having been “substantially damaged”. Homes that are substantially damaged are classified as having been damaged more than 49% of their replacement value as determined by the tax assessor.
Lastly, there are some simple steps that homeowners can take to help with their flood insurance costs. Street drains are an effective way to keep water from pooling so it is important to keep them free of debris. Loose items like outside furniture should be tied down to avoid it becoming dangerous in a high wind. In addition, installing additional flood vents, storm shutters or storm watch windows can not only protect your house, it can also lower the costs of your insurance. Long Beach Township offers consultations either at your house or at the township offices and can be set up by calling 609-361-6679.
Flood Insurance and the Long Beach Island NJ Real Estate Market
Flood insurance is directly linked to home values in the LBI NJ real estate market. Homes that are at or above the new base flood elevations tend to be an easier sale and are therefore worth more in the current market. Homes that are below base flood elevation still have value, but additional “homework” is needed to determine what the new flood insurance rate will be and if it makes financial sense to raise the existing house. For more information about Long Beach Township Flood Insurance Information or the impact flood insurance has had on the Long Beach Island NJ real estate market feel free to contact me, Nathan Colmer and I can answer any questions you have!
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org