Am I required to maintain flood insurance if I receive a LOMA?

No, but cancelling your flood insurance policy is not recommended due to the following:

  • Flood insurance is often considerably cheaper with a LOMA.
  • Lenders can still require you have flood insurance (see Mandatory Flood Insurance Requirement)
  • Federal Emergency Management Agency (FEMA) Flood levels are "minimum" expected flood levels. Across the nation, flood waters frequently exceed these minimum expected flood heights and X-zone properties have been known to experience flood significant damage/claims.
  • If your property is damaged from a flood, any FEMA disaster assistance you might be eligible for would be reduced by the amount of money you would have received from a claim if you had flood insurance coverage.

Show All Answers

1. Is there a fee for a LOMA?
2. I have an old Elevation Certificate. Can I use this to obtain a LOMA?
3. Is there an easy way to tell if my property qualifies for a LOMA?
4. There are multiple buildings on my lot, do I need an Elevation Certificate for each building?
5. Do Elevation Certificates expire?
6. Am I required to maintain flood insurance if I receive a LOMA?