Correct me if I'm wrong, but it is my understanding that a Flood Zone labeled Flood Zone X is a minimal risk flood zone. Does anyone know the details of this?

Does a flood zone X property require flood insurance if there is a mortgage?

From FEMA web page:

Moderate and Minimal Risk Areas

Areas of moderate or minimal hazard are studied based upon the principal source of flood in the area. However, buildings in these zones could be flooded by severe, concentrated rainfall coupled with inadequate local drainage systems. Local stormwater drainage systems are not normally considered in a community’s flood insurance study.

The failure of a local drainage system can create areas of high flood risk within these zones. Flood insurance is available in participating communities, but is not required by regulation in these zones.

BUT NOTE THIS, NE: "Nearly 25-percent of all flood claims filed are for structures located within these zones."

ZONE DESCRIPTION

B, X (shaded) Moderate risk areas within the 0.2-percent-annual-chance floodplain, areas of 1-percent-annual-chance flooding where average depths are less than 1 foot, areas of 1-percent-annual-chance flooding where the contributing drainage area is less than 1 square mile, and areas protected from the 1-percent-annual-chance flood by a levee. No BFEs or base flood depths are shown within these zones. (Zone X (shaded) is used on new and revised maps in place of Zone B.)

Several years ago FEMA re-zoned flood mapping. The two methods they used were google mapping and a governmental mapping to re-zone potential flood areas.

The major flooding during Hurricane Harvey in Texas. I think it was the 500 year flood plan that played out during Harvey. I am sure there are many homeowners that wished they had flood insurance and now have a major loss.

However the FEMA remapping caused problems for people who were not in a flood zone and now are in a flood zone and most likely will not be flooded. Because FEMA never walked the area they relied on Google maps and the government satellite to re-zone flood areas. FEMA NEVER sent out a visual inspection to see the lay of the land therefore causing financial problems for homeowners. Banks were requiring mortgages to buy flood insurance that were now in flood zones.

IF you are in an area that is near water and you think you may get flooded go to the FEMA website and check for yourself. However If you think the re-zoming/re-mapping was incorrect call FEMA to inspect your property.

Flood Insurance is extremely important and not too expensive if you are in an area that may be in a low risk of flooding. Check the FEMA maps for your propertie(s) to see if they may flood.

I recall a couple that owned a house in the Florida Keys in 2005 had just paid of their mortgage and canceled Flood insurance. Most likely they were paying at least $1,000 for flood insurance. Homeowners and Wind could have been another $4,000. Yes they were paying over $5,000 in insurance. Of course if they cancel it look at the savings over 5 years, $25,000.

However Hurricane Wilma changed their financial plans, this couple had a total loss from Wilma. It's great to cancel insurance and save money HOWEVER if you have a total loss can you rebuild the house and furnish the house with the savings/extra money that they had at the time. That's a good questions??? not sure the outcome.

I bet several people in the path of Harvey, Irma and Maria devastation wished they had Flood insurance in hindsight.

The best part is the Insurance companies argue was it a Flood Event or a Wind event? Was the water pushed in or did the water rise??? Now the fun begins with getting the insurance companies to pay claims in the path of Harvey, Irma and Maria...