The Federal Emergency Management Agency today announced that it is revising its Preferred Risk Policy under the National Flood Insurance Program (NFIP) to extend eligibility an additional year. Effective January 1, owners of buildings found to be in a Special Flood Hazard Area (SFHA) during a flood map revision, may be eligible for a preferred risk policy that will allow them to maintain a lower cost flood insurance policy for two years following the effective date of a flood map change. A SFHA is a high risk flood area, meaning that there is a one-percent annual chance of flooding. This might help some of the owners in Burnet County that will see map changes affecting their property.
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