Wednesday, July 19th FEMA and the City of Minot will be hosting an open house at the Municipal Auditorium from 10:00 am till 8:00 pm. As a result of FEMA’s floodplain remapping process of the Souris Valley, approximately 4,000 properties in the Minot area will be newly included in the area’s revised floodplain. That means many properties will be required to carry federally backed flood insurance if there is a mortgage attached to them.
This remapping process is — in part — due to the 2011 flood, and property owners subject to the insurance requirement will be best served by accurate, first-hand information. Wednesday’s open house represents an opportunity to gather that information directly from city, state, and federal officials.
If you’re wondering whether your home is in the new regulatory floodplain, FEMA has released an interactive map that will allow you to drill down and see how your home or property is impacted. View that map by following this link. The new 100-year floodplain is based on a flood of approximately 10,000 CFS. For comparison, the 2011 flood had water flowing through town at a rate of approximately 27,000 CFS. That means some homes impacted by the flood may not be required to carry flood insurance, but based on expected changes in rates and premiums, it may still be in your favor financially to carry insurance. Again, gathering information is the best way to ensure you make the best decision for yourself.
And as a hint, make sure you ask about ‘grandfathering.’ Putting an insurance policy in place now — before the new maps go effective (they have to go through a review and public comment period first) — may end up saving you lots of money, especially if your home is newly mapped into the 100-year flood plain.