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What Is National Flood Insurance Zone V?

What Is National Flood Insurance Zone V? thumbnail
Flood insurance can cover your home and its contents from flood losses.

The Federal Emergency Management Agency (FEMA) assigns flood zone V to certain coastal areas. It is one of 32 zones in the V family. Properties in this zone represent the highest risk of flood and, therefore, have the highest flood insurance rates.

  1. Mandatory Insurance

    • Federal law requires owners of properties in flood zone V in communities participating in the National Flood Insurance Program (NFIP) to carry flood insurance if they have a federally-backed mortgage. Due to changes in banking practices, mortgage lenders in non-participating NFIP communities may require a flood policy purchase, as well.

    Flood Chance

    • According to FEMA, flood zone V areas exhibit a 1 percent or greater chance of flooding each year. These coastal areas also present the additional hazard of flood from storm surge. Properties in this flood zone have a 26 percent chance of flooding during the course of a 30-year mortgage.

    Base Flood Elevations

    • This flood zone does not show base flood elevations, the height floodwater rises to during the base flood. Often referred to as the BFE, this height is the regulatory requirement for the elevation of a building when defined.

    Policy Details

    • Residential policies for coastal high-risk areas offer three levels of coverage: building, contents or building and contents. The standard deductible is $2,000 but, NFIP offers higher deductibles for single-family properties, up to $5,000. Property owners in communities participating in the Community Rating System, a program that rewards community floodplain management activities exceeding NFIP minimum requirements, receive discounted rates.

    Premium Estimates

    • The NFIP provides an online tool to estimate premiums. You will need to enter your full address and whether the property is residential. It will provide premium estimates for common amounts of coverage for each of the three coverage levels (see Resources).

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  • Photo Credit flood image by dinostock from Fotolia.com

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