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Revision as of 11:35, 5 February 2025

For a property to qualify under this exception, there must be a physical change in the Flood Hazard Boundary Map (FHBM) or Flood Insurance Rate Map (FIRM) that results in a zone designation change for a specific building. This means that:

The previous flood zone did not classify the property within an SFHA.
The updated flood map now places the property inside an SFHA.

Examples of Zone Designation Changes That Qualify

Example 1: Zone X to Zone AE

Before the Map Revision: A homeowner’s property was in Zone X (a moderate-to-low-risk flood zone), meaning flood insurance was optional.
After the Map Revision: A new flood study indicates a higher flood risk, and FEMA updates the map, placing the home in Zone AE (a high-risk SFHA).
Eligibility for Exception: The property qualifies for the 1-day waiting period if the policy application and full payment are submitted within 13 months of the map change.

Example 2: Zone B to Zone VE

Before the Map Revision: A coastal property was in Zone B, which carries a lower flood risk and does not require flood insurance for federally backed loans.
After the Map Revision: Due to erosion and updated flood modeling, FEMA reclassifies the area as Zone VE, a high-risk coastal flood zone.
Eligibility for Exception: The owner is eligible for the 1-day waiting period under the Map Revision Exception if the application is submitted within the specified timeframe.

Scenarios That Do Not Qualify

No Change in SFHA Status
- If a property was already within an SFHA before the map revision and remains in an SFHA after, it does not qualify for the exception.
- Example: A home was in Zone AE before the update, and the new map still shows it in Zone AE.
Zone Change That Does Not Increase Flood Risk
- If a property moves from one SFHA designation to another, but there is no significant increase in flood risk, it may not qualify.
- Example: A property shifts from Zone AE to Zone AO, both of which are SFHAs. This may not be considered a significant change.
Zone Change That Lowers Flood Risk
- If a property is removed from an SFHA (e.g., Zone AE to Zone X), the exception does not apply because flood insurance is now optional.

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+For a property to qualify under this exception, there must be a '''physical change in the Flood Hazard Boundary Map (FHBM) or Flood Insurance Rate Map (FIRM)''' that results in a '''zone designation change''' for a specific building. This means that:
+# The '''previous flood zone''' did not classify the property within an SFHA.
+# The '''updated flood map''' now places the property '''inside an SFHA'''.
+=== Examples of Zone Designation Changes That Qualify ===
+==== Example 1: Zone X to Zone AE ====
+* '''Before the Map Revision:''' A homeowner’s property was in '''Zone X''' (a moderate-to-low-risk flood zone), meaning flood insurance was optional.
+* '''After the Map Revision:''' A new flood study indicates a higher flood risk, and FEMA updates the map, placing the home in '''Zone AE''' (a high-risk SFHA).
+* '''Eligibility for Exception:''' The property qualifies for the '''1-day waiting period''' if the policy application and full payment are submitted within 13 months of the map change.
+==== Example 2: Zone B to Zone VE ====
+* '''Before the Map Revision:''' A coastal property was in '''Zone B''', which carries a lower flood risk and does not require flood insurance for federally backed loans.
+* '''After the Map Revision:''' Due to erosion and updated flood modeling, FEMA reclassifies the area as '''Zone VE''', a high-risk coastal flood zone.
+* '''Eligibility for Exception:''' The owner is eligible for the 1-day waiting period under the Map Revision Exception if the application is submitted within the specified timeframe.
+=== Scenarios That Do Not Qualify ===
+# '''No Change in SFHA Status'''
+#* If a property was already within an SFHA '''before''' the map revision and remains in an SFHA '''after''', it does not qualify for the exception.
+#* Example: A home was in '''Zone AE''' before the update, and the new map still shows it in '''Zone AE'''.
+# '''Zone Change That Does Not Increase Flood Risk'''
+#* If a property moves from one SFHA designation to another, but there is no significant increase in flood risk, it '''may not''' qualify.
+#* Example: A property shifts from '''Zone AE to Zone AO''', both of which are SFHAs. This may not be considered a significant change.
+# '''Zone Change That Lowers Flood Risk'''
+#* If a property is removed from an SFHA (e.g., Zone AE to Zone X), the exception does not apply because flood insurance is now optional.