Mapping the Zone Improving Flood Map Accuracy (2009) / Chapter Skim
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6 Benefits and Costs of Accurate Flood Mapping
6 Benefits and Costs of Accurate Flood Mapping
Pages 79-88
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From page 79... ...
a product or service that can be shared by many users simultaneously without detracting from its value to any BENEFITS AND COSTS one of them. Flood maps are used an estimated 30 mil lion times each year by government agencies, FEMA Most of the costs and some of the benefits of contractors, lenders, insurance agents, land developers, more accurate flood maps can be quantified, draw- realtors, community planners, property owners, and ing on studies of floods and other kinds of hazards (e.g., Bernknopf et al., 1993; NRC, 2006)
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From page 80... ...
Another possible benefit of more accurate maps is that fewer individuals will contest floodplain boundaries Land Use and levels of risk, saving time and money. Greater trust in the maps could also lead to more, but wiser, invest More accurate flood maps provide a more reliable ment.
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From page 81... ...
BOX 6.1 Impact of Improved Flood Maps on Insurance Insurance More accurate flood maps can increase or decrease insur ance premiums of individual property owners, as the following Better estimates of flood risk enable structures to examples from two counties in New Jersey illustrate. In Monmouth be insured at appropriate levels, which benefits both County, more accurate flood maps created using lidar (light individuals and the nation.
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From page 82... ...
. Geospatial data necessary to complete the factoring in survey responses on flood map inventory assessment (e.g., parcel boundaries attributed with needs from all mapped communities (the original zoning, building value, and construction date; digital analysis considered only 10 percent of mapped com- flood hazard information)
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From page 83... ...
. reflect the unwillingness of floodplain residents to The limited detailed study method used by North obtain insurance, perhaps because of their lack of trust Carolina is different from the limited detailed study in the maps or their lack of understanding of what the method used nationally (see "North Carolina Flood maps portray.
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From page 84... ...
To calculate the occurred to public infrastructure for every $1.00 of incremental benefits of flood insurance premiums flood losses to insured buildings. The NCFMP evalubetter matching risk, the NCFMP quantified the dif- ated average annual disaster-related expenditures to ference in annual flood insurance premiums for each repair or reconstruct public infrastructure (e.g., roads, property based on its location relative to the SFHA on bridges, wastewater facilities, public buildings, public the old FIRM and the new DFIRM.
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From page 85... ...
The number of policies in force for North Carolina increased by 4 percent between 2006 To determine which flood study method yields and 2007. Of the property newly designated within the greatest net benefits, the NCFMP examined four the SFHA, 491 buildings now have BFE data where methods: approximate studies using the National none previously existed.
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From page 86... ...
through more demographics, development plans, quality of existing accurate identification of flood elevations and the areal data, flood history, and the nature of the terrain -- the extent of the floodplain. Only detailed studies and most approach followed by the state -- the net benefits were limited detailed studies provide base flood elevations.
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From page 87... ...
The flood study method should that accurately define the spatial extent of the SFHA be determined based on the accuracy of the topoand provide base flood elevations. The marginal ben- graphic data in the county or watershed under efits derived from these more accurate maps exceed study and the current and future risk to those in the the marginal costs of their preparation.
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