What Did Hurricane Sandy Teach Us on Flood Zones?

More Than a Year After Hurricane Sandy | Flood Insurance Is Here

The havoc and devastation that Hurricane Sandy wreaked on all of us in Rhode Island is still remembered well.  I had a home closing for a house in a flood zone that day in October 2012 (the home survived the storm well thank goodness), made sure all my cared for properties had been battened down and headed home to make sure my house was as well.

Many homes in Charlestown and in Matunuck were severely damaged and wiped out.  Many are rebuilding to new building codes, moving houses back from the water and raising them up additional feet- all at a great cost to lower their flood insurance.

One thing about this RI real estate agent is I know the experience of being in flood zones.  I live in a ‘C’ zone which is considered low risk flood zone.  We did not have to evacuate during Hurricane Sandy and could watch the fierceness of Narragansett Bay waters.  Should we have left the coastal shores?  Probably.  My RI coastal real estate area had damage from trees and a few houses had flooding in their basements but we were thankfully spared.  
But remember it is the 'BIG ONE' that flood insurance is for ...yes, like the hurricane of '38.
Coastal shores everywhere are facing flood insurance premium changes and huge increases (although at this point the flood insurance increases have been put on hold for now 10/29/2013 for homeowners not selling their home).  You do not need to live on the waterfront to require flood insurance either.  If you have a mortgage, flood zone changes mandate flood insurance if you have a property in a flood plain.  You do not get a choice.

It is the tsunami of federal flood insurance subsidy losses that do not lessen.  It is man’s right to own property, it is not a right to be able to obtain insurance for it.  So the question will be in the next year how we deal with flood insurance and make it bearable to the homeowner and the U.S. government that has been bleeding its coffers to cover the losses.

 As a waterfront property owner I realize that the government should not be responsible if I choose to own a home in a known flood zone.  However, it is not fair that while I own a property, the government can tell me that the flood plain has changed to make my property nearly worthless.  This is the property dilemma faced along all waterways now.  New options must appear to homeowners impacted with such things as community self insurance of properties.

  We as homeowners can not depend upon our government to bail us out of a catastrophe of epic flood proportions. So a year after Sandy we in Rhode Island, like other states along the East coast, need to address the water issues that face our properties survival and stay above the surge.
 Hurricanes are not going away and flood threats will continue to challenge property owners everywhere.  Let us learn better how to meet this challenge.  Work with your town and state agencies to press them.  Your property values depend upon it.
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Ginny Lacey Gorman is your go to Rhode Island waterfront Realtor® for RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information.  Email me at RiByTheBay@gmail.com to make an appointment to find the home of your dreams too! 

Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  So feel free to search for RI Homes for Sale.  When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy Realtor® who sells houses in this real estate market call Ginny at 401.529.7849.