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Are you due a refund on your flood insurance premium?

Check with your mortgage company and flood insurance carrier.

Insurance companies and mortgage companies are each pouring through thousands of documents to see if they owe you money for an overpayment on your flood insurance premium.

That's because in February, the new floodplain maps in Jefferson Parish were updated for the first time since 1995.

So, now you need to find out if you are getting a refund, or a bill in the mail.

At TWFG Insurances Services, agents are busy helping clients with their new flood insurance policies. With changes to the floodplain map in Jefferson Parish, people are beginning to get notices from their mortgage companies.

"By far, there are a lot more people getting flood relief," said TWGF Branch Owner Rick Rogers.

With the federal upgrades to the levees by the Corps of Engineers and Jefferson Parish upgrades to drainage canals and a 98 percent efficiency rating on the pumps, people are moving to the top-rated "X" zone. Mortgage companies are no longer requiring flood insurance for those people in the preferred flood zones.

"There's been about a 60 percent of the structures in the parish have a positive change," said Michelle Gonzales, the Jefferson Parish Director of Floodplain Management and Hazard Mitigation.

"If you're in a preferred flood zone, be thankful. You can get it at a reduced cost, and jump on it," said Rogers about buying a flood policy.

But 8,000 structures have a negative change, meaning they are more at risk for flooding. But Jefferson Parish says all that could change for the better later in the year, as they work with FEMA to include three new systems that are now on line: Pump to the River for River Ridge, Along the West Metairie Canal near David Drive, and in Harvey near Peters Road.

"We have the ability to amend the map when drainage projects are complete," said Gonzales.

But 30 percent of people in the U.S. who file flood claims, never bought flood insurance since they live in an "X" zone and felt safe. That happened to many in central Louisiana in 2016. So, the parish president urges everyone to get flood insurance and he warns don't be caught without it if your mortgage company is no longer paying the bill.

"But our message is you need to have it, so you're going to have to make that payment on your own. You can't escrow that anymore on your mortgage, and it happened to me," said Mike Yenni, Jefferson Parish President.

Many of you who have been upgraded to an "X" zone could be due refunds.

If you've been changed to a higher risk zone and now owe money, you will be able to spread out the premium increase over time.

Check with your mortgage company and flood insurance carrier.



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