Homeowner feels flooded by insurance rates Aurora Beacon News
Flood insurance, on the other hand, is turning out to be a major one. Five years ago, when Adams moved into her River Street home, National City Mortgage informed her that flood insurance wasn't necessary. Her home, the company said, was not in the highest-risk Special Flood Hazard Area, as determined by the Federal Emergency Management Agency.
The company did warn her that flood maps could change, but since the insurance was $300 a year for that house, and the same price for two others she owns on the same block, she decided to forego it. Homeowners within the high-risk SFHA must carry that insurance to obtain a mortgage, but it seemed like Adams was in the clear.
And then, in August of last year, FEMA unveiled its new flood maps for Kane County. The revamp was part of a 10-year process to redo what they call Flood Insurance Rate Maps throughout the country, making them more accurate and up-to-date, according to Cat Langel, senior external affairs specialist with FEMA's Chicago office.
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