This interview was recorded Wednesday, Aug. 4, at the Henderson County Courthouse Annex.
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FEMA is updating its National Flood Insurance Program pricing for the first time in 50 years, "so policyholders can make more informed decisions on the purchase of adequate insurance and on mitigation actions to protect against the perils of flooding."
To explain what that means, we talk with Henderson County Floodplain Administrator Joy Kimbrough (pictured above).
The new plan, called Risk Rating 2.0, goes into effect for new and renewing policies on Oct. 1, 2021 and for everybody by April 1, 2022.
"It's a plan that is set up to be a more equitable pricing structure for those who are required to have flood insurance or for those who want to have flood insurance," Mrs. Kimbrough said.
Mrs. Kimbrough said up to 80 percent of homeowners with flood insurance. That could have a huge impact on Henderson County.
"Henderson County is basically a basin," she said. "We have the Trinity River on our western boundary, Lake Athens right in the center, which is mostly a spring-fed lake, and the Neches River on the eastern boundary of our county. And the Kickapoo watershed that runs practically through the center of the county from almost Chandler to the other side of Murchison."
"So we have many areas of our county that are not located in flood plains that flood," Mrs. Kimbrough said, "and that's one of the biggest takeaways from all of this, is just because you're not in a flood plain doesn't mean you're not going to flood."
According to a FEMA press release, "The new methodology allows FEMA to equitably distribute premiums across all policyholders based on the value of their home and the unique flood risk of their property. Currently, many policyholders with lower-value homes are paying more than they should and policy-holders with higher-value homes are paying less than they should."
Mrs. Kimbrough advised Henderson County residents to make sure they understand this new pricing structure by talking to their insurance agents or researching the new Risk Rating 2.0 plan online.
"One of the most important things is to find out your risk," she said.
