O'port residents may need flood insurance due to map changes
BY KATHY CHANG Staff Writer

OCEANPORT — Modifications made to federal flood zone maps may require some property owners who are currently not in the Special Flood Hazard Area (SFHA) to obtain flood insurance.

"There have been some minor changes in our mapping, and it's imperative that residentsmake themselves aware of their present and future status within the SFHA," said Police Capt. Mauro Baldanza, who is also emergency management coordinator for the borough.

The Federal Emergency Management Agency's (FEMA) modified Digital Flood Insurance Rate Map (DFIRM) for Oceanport will become effective on Sept. 25.

The map shows areas that have a 1 percent annual chance of severe flooding.

Property owners who obtain policies after Sept. 25 will lose the ability to obtain a lowerrisk insurance rating. It is recommended that policies be obtained 30 days prior to maps becoming effective.

Borough officials have posted a link to the updated flood zone maps on the website oceanportboro.com. Updates will continue to be posted until Sept. 25 to assist residents and help answer questions.

Baldanza said that as of January 2009, Oceanport has 666 policies in force with property coverage of approximately $172.5 million.

In September 2008, FEMA released flood maps that expand the flood zones in local coastal municipalities.

In some cases, properties that didn't require flood insurance in the past, or were considered to be in low- or moderate-risk zones, may now be considered to be in high-risk areas, and residents could be forced to pay premiums costing up to $5,000 each year.

Most homeowners in a moderate-to-low risk area are eligible for coverage at a preferred rate. Preferred Risk Policy premiums are the lowest premiums available through the National Flood Insurance Program (NFIP), which the borough already participates in.

The NFIP makes federally backed flood insurance available for all eligible buildings, whether they are in a flood plain or not. Flood insurance covers direct losses caused by surface flooding, including a river overflowing its banks and local drainage problems.

"A [PRP] is a cost-effective way to address the pending requirement before map modifications take effect," said Baldanza. "You will be grandfathered in under lower rates before the new rates take effect."

The purchase of flood insurance is mandatory for federally backed mortgages on buildings located in SFHAs. It also affects all forms of federal or federally related financial assistance for buildings located in SFHAs.

Oceanport has applied for entry into the Community Rating System (CTS), which will provide a discount to residents holding flood insurance policies.

Baldanza said he recently completed a four-day workshop on the program.

"There is only one community nationwide with a 45 percent discount, so the standards are extremely high," he said. "The program allows you to improve your rating, but you must maintain it for future benefit."

The proposed changes in the maps have met with some dissent in Monmouth County. Assemblywoman Amy Handlin (R-13th District) had been very proactive along with the county in trying to delay the implementation of the revised flood maps. In February, Monmouth County's appeal of FEMA's revised flood zone maps was denied.

For more information, visit www.floodsmart. gov.

Contact Kathy Chang at

kchang@gmnews.com.