When FIRMs change, what grandfathering options do property owners have?

When FIRMs change, what grandfathering options do property owners have?

  • Use the new FIRM to rate the building
  • Use the rating structure of a policy that lapsed 5 years ago
  • Use the old Flood Hazard Boundary Map
  • Use the BFE in effect when the building was originally constructed

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