Floodplain management is the operation of a community program of corrective and preventative measures for reducing flood damage. These measures take a variety of forms and generally include requirements for zoning, subdivision or building, and special-purpose floodplain ordinances.
In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding.
In order to qualify for flood insurance, a community must join the National Flood Insurance Program and agree to enforce sound floodplain management standards and on April 14, 1982 (Ordinance 82-119) the City of Laredo joined the NFIP and adopted and enforces local floodplain management ordinances that provide flood loss reduction building standards for new and existing development.
Since standard homeowners insurance doesn't cover flooding, it's important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that affect the citizens of Laredo.
The National Flood Insurance Program (NFIP) is administered by the Federal Emergency Management Agency (FEMA), which works closely with nearly 90 private insurance companies to offer flood insurance to property owners and renters.
The NFIP, a federal program, offers flood insurance, which can be purchased through property and casualty insurance agents. Rates are set and do not differ from company to company or agent to agent. These rates depend on many factors, which include the date and type of construction of your home, along with your buildings level of risk.
What to Expect
Congress mandated federally regulated or insured lenders to require flood insurance on properties that are located in areas at high risk of flooding.
Residents of High-Risk Areas
Homes and buildings in high-risk flood areas with mortgages from federally regulated or insured lenders are required to have flood insurance. These areas have a 1% or greater chance of flooding in any given year, which is equivalent to a 26% chance of flooding during a 30-year mortgage.
Residents of Moderate-to-Low Risk Areas
Homes and businesses located in moderate-to-low risk areas that have mortgages from federally regulated or insured lenders are typically not required to have flood insurance. However, flood insurance is highly recommended because anyone can be financially vulnerable to floods. People outside of high-risk areas file over 20% of NFIP claims and receive one-third of disaster assistance for flooding. When it's available, disaster assistance is typically a loan you must repay with interest.
A lender can require flood insurance, even if it is not federally required.
To determine your flood risk visit the One-Step Flood Risk Assessment Tool, which is a simple way for homeowners to learn their flood risk level by just inputting their address.
City of Laredo Planning and Zoning Department
1413 Houston St.
Laredo, Texas 78040