All Village Properties Qualify for Reduced Flood Insurance Premiums. If you are purchasing a house located within the SFHA and using a federally regulated/insured bank for a loan, the purchase of flood insurance will be mandatory.
However, even if your home or business is not within an SFHA, purchasing flood insurance is still a good idea. Keep in mind flood elevations can surpass the 100-year mark in an extreme storm event, and approximately 25% of all claims paid out by NFIP are for properties outside of the SFHA.
What Does the Village Do For Residents?
As part of the Village’s responsibilities within the Community Rating System program, we are required to ensure that properties within the SFHA meet certain building restrictions. If your property is within the SFHA and you are planning major renovations, please come talk to the Engineering Department early in your project planning. Our goal is to limit your flood damage liabilities!
The Village has also participated in the update and adopted the 2022 Lake County All-Natural Hazards Mitigation Plan (ANHMP). Participation in this accredited plan is a requirement to access specific mitigation funds. The plan is in effect for both Cook and Lake Counties within the Village boundaries.
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