MINOT, N.D. - Property owners could be required to purchase flood insurance now that FEMA is issuing changes to the current Minot and Ward County floodplain maps.
While all residents are encouraged to purchase flood insurance, expansions of the 100-year and 500-year flood zones would now make flood insurance a requirement.
Residents aware of these changes ahead of time can get a deal on flood coverage if they act 30 days before the new floodplain maps go into effect.
“Before these maps go effective, you're strongly encouraged to get that flood insurance policy in effect, so that zone that you're in right now, which most people are in right now what's called an ‘X-shaded zone’ for the 500 year floodplain, you get grandfathered into that zone. That’s important because over time, insurance rates will increase. If you're grandfathered into that lower risk zone, your premiums will be a lot less expensive than if you didn't get grandfathered in, and you went up to that actuarial rate right away,” said City Engineer Lance Meyer.
These new maps are not expected to go into effect until the summer of 2018, so make sure you know your zone and purchase flood insurance while your rates are still low.