Why did my bank tell me that flood insurance is mandatory?
The Flood Protection Act of 1973 and the National Flood Insurance Reform Act of 1994 mandate the purchase of flood insurance as a condition of federal or federally regulated financing for acquisition and/or construction of buildings in the Special Flood Hazard Areas (SFHA) of any participating community.

These acts prohibit federal agency lenders from making, guaranteeing, or purchasing a loan secured by real estate or mobile home(s) in SFHA, unless flood insurance has been purchased and is maintained during the term of the loan. In addition, even if the community is not participating in the NFIP, a lender may require the borrower to obtain flood insurance in the absence of a federally mandatory requirement. Please call 410-638-3103 for more information.

Show All Answers

1. What is a floodplain? How does the floodplain affect my property?
2. My home is located in a floodplain area. What are Harford County’s regulations regarding development or redevelopment in the floodplain?
3. I was told that I need an elevation certificate. What is that form and who is qualified to complete the elevation certificate?
4. I have lived here forever and have never been flooded. Why do I need flood insurance?
5. How can I see Harford County’s flood maps and find out more information?
6. Why did my bank tell me that flood insurance is mandatory?
7. How are rates determined for a flood insurance policy?
8. Where can I find out more about purchasing flood insurance?