The Flood Disaster Protection Act of 1973 requires federally backed lenders to ensure that flood insurance is purchased for properties in the SFHA when loans are issued for acquisition or improvements.
Flood Insurance Rate Maps (FIRMs) are used by officials, lenders, and insurers to determine whether flood insurance is required. The National Flood Insurance Program (NFIP), established under the National Flood Insurance Act of 1968, allows FEMA to offer subsidized flood insurance.
Wake Forest participates in the NFIP by enforcing local regulations and requiring floodplain permits. As a result, property owners in Wake Forest and the ETJ can access affordable flood insurance, regardless of their flood zone. NFIP coverage often costs about half as much as non-subsidized insurance.
Residents can buy NFIP policies through private insurers participating in the Write-Your-Own (WYO) program. To find a provider, visit FloodSmart.gov/flood-insurance-provider or call the NFIP at 877-336-2627. Most policies take 30 days to go into effect.
Did You Know?
- Properties in mapped floodplains are 5x more likely to flood than catch fire.
- A “100-year floodplain” means there’s a 1% chance of flooding each year—equal to a 26% chance over 30 years.
- Just 1 inch of water can cause $25,000 in damage.
Estimate your flood damage costs: