Updated flood insurance maps could mean better rates for some DI residents

A few could see reductions of $1000 or more per year

Daniel Island residents in flood-prone areas may be in for a little extra money this year. The Federal Emergency Management Agency (FEMA) recently released an update to their flood insurance maps. This is the first major change in the maps since 2003.

For some locals, those alterations mean flood insurance rates will drop.

“This is the first one in a while that theoretically has more helpful areas than non-helpful,” says State Farm Insurance Agent Rick Iriart. “The areas that have had positive changes tend to be that the flood level will be higher than what they had been previously, which will help people with their flood insurance premiums.”

Flood insurance rates are decided by FEMA flood insurance maps. Research is conducted to conclude what the risk of flooding is for areas, accounting for base flood level and potential storm surges, then insurance companies decide the rates based on those numbers.

While Iriart does not believe that there will be monumental savings for every local, he did say that residents that belong to a zone designated as “V” will have a reason to celebrate, because the update shows almost no more of these high-risk areas on the island.

“Daniel Island, for Berkeley County, is where we have the ‘V’ zones and ‘VE’ zones, which means that we projected more wave action around the Daniel Island area,” said Berkeley County Floodplain Manager Penny Ayers. “With the new maps, those are going to be diminished, for the most part. They’ll be diminished to ‘AEs’ and the base flood elevation for most lots will be diminished as well, so they are not going to project as much wave action in that area.”

“There’s almost no ‘V’ zone areas on Daniel Island, anymore,” added Iriart. “That’s going to be a massive impact, positively, for anybody who was in a ‘V’ zone and now finds themselves in an ‘AE’ Zone. You’re going to be talking about literally saving a thousand dollars a year or more, potentially. But, relatively few people are going to find themselves in that category.”

While both “V” and “AE” zone residents are required to have flood insurance, if their communities participate in the National Flood Insurance Program, “V” zones are designated as coastal areas. That means that their flood insurance is generally higher than people who live in “AE” zones.

One community impacted by this change is the Smythe Park neighborhood. The current map shows several lots and portions of Smythe Street and Wando Landing Street in a “V” zone, while the latest update has those same areas in an “AE” zone. Daniel Island residents Rex and Lori Gerding live in one of the areas that will see a decrease in premiums.

“We are looking forward to a lower flood insurance bill,” stated Rex. “While our family understands that the viability of FEMA’s support of flood damaged regions requires the contribution of property owners in areas prone to flooding, this rational adjustment of our specific risk is appropriate. Those of us living near the Wando River on Daniel Island have long noted that the V (velocity) designation is not accurate, and we appreciate the conscientious analysis that has resulted in our property’s reassignment into the more accurate designation as ‘AE.’”

Ayers said that the new maps will also change building regulations.

“When you’re building in a ‘VE’ versus an ‘AE,’ there’s a lot less tolerance in the ‘VE’ zone with building design,” Ayers explained. “In the ‘VE’ zones, you have to be elevated. The first floor elevation has to be up, with no enclosures below, you have to have the break-away walls. There’s a lot less choices for building design in ‘VE.’”

Thanks to the raised elevation of some houses, residents who experience a drop in base flood level could also see a decrease in premiums. Ayers said that, because homes are elevated above the base flood level, they will be even safer if that level decreases.

“That means that they’re now sitting higher than they already were, and that puts them at a lower risk,” she said.

The newest FEMA flood insurance maps are in their preliminary stages but have been approved for Daniel Island. They will go into effect on December 7, 2018.

Iriart said that after folks determine what flood zone their home is located in, they should talk to their insurance agent to find out if their area’s flood risk has changed. Daniel Island residents can find out what flood-risk area they are in by plugging their address into the map located at http://charlestonsc.maps.arcgis.com/apps/View/index.html?appid=85e7120f9....

Penny Ayers also assured residents that, if they feel any confusion about flood insurance maps, to contact her at penny.ayers@berkeleycountysc.gov.

Daniel Island Publishing

225 Seven Farms Drive
Unit 108
Daniel Island, SC 29492 

Office Number: 843-856-1999
Fax Number: 843-856-8555

 

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