The Federal Emergency Management Agency's new "flood" maps are slowly being rolled out to communities across the state. The changes, which take effect Oct. 1, could mean significant premiums to some property owners.
For businesses and property owners here along the shoreline as well as inland waterways, the new maps could mean changes in the risks assigned to those properties.
FEMA officials said the new maps could increase some premiums by as much as 25 percent each year for the next four years.
In other words, if you're paying $1,200 this year for flood insurance that means your premiums will double to $2,400 by the year 2017.
According to local town officials, the new flood maps will replace ones that are about 20 years old.
Joe Sastre, Groton's director of emergency management, said some flood rates may go up, while others may go down because of better mapping technology.
"So they could anticipate where the water's going to go, how deep it can be, whether or not wave action is involved as opposed to still water flooding," Sastre said.
Now if you haven't gotten a letter from your insurance company or agent about the new FEMA maps, you will pretty soon.
If you want to see if your property is effected by the new FEMA flood maps, click the following link.
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Wednesday, August 27 2014 2:48 AM EDT2014-08-27 06:48:05 GMT
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