Oahu Residents: Buy Flood Insurance!

January 3, 2011

Property owners in Oahu, Hawaii, are being urged by emergency management officials to purchase flood insurance at current rates, before new flood maps and higher prices go into effect later this month.

FEMA (the Federal Emergency Management Agency) says update rate maps for the National Flood Insurance Program are due to be implemented on January 19th.

Parts of Hawaii affected by the new maps include Hawaii Kai, Ala Moana-Kakaako, Ewa Beach, and Makaha.

Property owners in areas designated as special flood hazard zones, and who hold federally backed mortgage are required to purchase flood insurance policies.

Business and homeowners who purchase flood insurance policies prior to January 19th will be able to take advantage of lower premiums, giving them a potential savings on hundreds of dollars a year.