News Flash Home
The original item was published from 10/26/2018 12:50:30 PM to 10/27/2019 12:00:00 AM.

News Flash

News Carousel

Posted on: October 26, 2018

[ARCHIVED] Flood Insurance & Hazard Areas

A peaceful stream with sunlight

October 26, 2018 – As a result of the City of Midland’s exemplary floodplain management programs and services, Midland is rated by the Insurance Services Office, Inc. (ISO) Community Rating System (CRS) as a Class 5 community.  For Midland residents, this means a discount of 25 percent over standard insurance rates when purchasing or renewing flood insurance policies for their properties.  Midland has maintained this rating since 2008, thereby providing the lowest flood insurance rates in the state of Michigan, according to the National Flood Insurance Program (NFIP). 

Per the NFIP, a home located within a special flood hazard area (SFHA) or floodplain has a 26 percent greater chance of being damaged by a flood over the life of a 30-year mortgage than by fire or other loss. Homeowner’s insurance will not cover flood damage; this is why flood insurance is mandatory for all federally-backed mortgages.  Homes do not have to be in the floodplain to experience flooding.

Because the City participates in the NFIP, anyone who owns or rents property within Midland can buy flood insurance through a local insurance agent and receive the 25 percent rate reduction.  There’s a 30-day waiting period for coverage to begin.  Call 1-800-427-4661 with any questions regarding the NFIP, or call your licensed insurance agent for more on the City’s excellent flood rating and savings it will bring to you. 

As a result of the catastrophic damages caused by Hurricane Sandy, Congress has enacted several insurance reform measures.  These measures require the Federal Emergency Management Agency (FEMA) and the NFIP to create a reserve fund for payment of insurance claims resulting from floods, since the claims were previously paid from the national treasury.  If you own a home in the floodplain that was constructed prior to the first Flood Insurance Rate Map (FIRM) for your community (12/15/1983 for Midland), your insurance rates were subsidized in the past by FEMA.  Under the new reforms, there could be a significant increase in flood insurance rates for many homes in Midland if subsidized rates are eliminated and full-risk premiums are calculated based upon the amount of risk of damage your home may have. 

Additional Info...
Facebook Twitter Email

Other News in News Carousel

Calculator with bills

Winter 2022 Tax Payments Due Soon

Posted on: January 20, 2023
2023 Calendar cover featuring a collage of the Midland County Courthouse at sunset

2023 City Calendars to Be Delivered Soon

Posted on: December 16, 2022
Two yellow City snow plows at night with green lights flashing

Reminder of City's Snow Removal Rules

Posted on: December 9, 2022
Yellow rim and black tire of a large construction vehicle

Sanitary Landfill Resumes Winter Hours

Posted on: December 2, 2022
4 toy cars parked in a square around yellow lines in a parking lot

Rules of the Road for On-street Parking

Posted on: November 10, 2022
Sewer piping

Sewer Cleaning Project Begins October 31

Posted on: October 28, 2022
The exterior of Midland City Hall

Taglauer Named Code Official of the Year

Posted on: October 21, 2022
A young child plays in a water fountain feature in a park with green grass and a blue bench

Thrune Park, Spray Parks Close for Season

Posted on: September 30, 2022
Fire Marshal John Jurek

City Promotes John Jurek to Fire Marshal

Posted on: September 2, 2022
New City Clerk Lacey Todd

Lacey Todd Promoted to City Clerk

Posted on: April 8, 2022
A black MPD SUV sits on green grass in front of the Tridge on a sunny day

MPD Awarded Grant for 3D Scene Scanner

Posted on: January 7, 2022