Ocean City Floodplain Maps likely to Increase Insurance Rates


Many residents of Ocean City Maryland are likely to be very unhappy in the near future. The director of Developmental Review and Permits announced recently that the Flood Insurance Rate Maps may cause a price hike in insurance rates. The new maps may include some areas otherwise not included.

Many of the maps currently being used to judge flood prone areas can be dated back to the early 80’s. FEMA has provided an estimated timeline and unlike other parts of the nation, the maps will not be shown until April 2013. After they are released there is likely to be an appeal process which will push the effective date out another year or so.

While the effects of the new FEMA flood maps may not be seen in Ocean City Maryland for a couple of years, other parts of the country are currently dealing with them. Many parts of Louisiana have been remapped and considered flood prone. These residents will likely see a high cost in flood insurance.