Virginia Real Estate Law & Agency

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Chapter 1

Course: Virginia Real Estate Exam Prep
Subject: Virginia State Salesperson Exam Prep
Chapter: Environmental Issues Amp Risk

Flood Zones - More Than Just SFHAs:

Special Flood Hazard Area (SFHA - Zone A or V): Has a 1% annual chance of flooding (the "100-year floodplain"). Lenders will require flood insurance. Premiums are high, especially in coastal areas (Zone V).
Moderate- to Low-Risk Areas (Zone B, C, X): Flood insurance is not required by lenders but is highly recommended. Over 20% of flood insurance claims come from these zones. Premiums are significantly lower.
Agent's Duty: Do not state, "This property is not in a flood zone." State, "This property is not in a mandatory flood insurance zone according to the current FEMA maps. I recommend you verify this and consider flood insurance regardless, as flooding can occur outside mapped zones."

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