Who Could Forget Superstorm Sandy?

Superstorm Sandy’s inland flooding shocked New Yorkers: in a post-Sandy survey, 77% of New Yorkers considered that inland flooding was much higher than expected! This is exceptionally high considering that Sandy was weaker than a Category 1 hurricane.

image02Six months after Superstorm Sandy, a Wharton School of Business survey identified that 91% of New Yorkers living in flood-prone areas miscategorized their flood probability and underestimated the flood damage they would suffer. Check our app to Know Your Risk, Protect Your Investment, and live Beyond Floods!
The Wharton School of Business survey identified that 40% of New Yorkers don’t believe that Climate change will increase their flood risk. Make no mistake, climate change WILL increase your flood risk. The Flood Outlook Score we showcase in our Beyond Floods product has considered the property structure level impact of sea level rise increases due to climate change.

The Wharton School of Business survey also identified that 33% of New Yorkers living in flood prone areas did not have flood insurance and 44% bought insurance only because they were forced by their lenders.
Don’t protect your investment because you are forced to, but because you understand your risk.

image00Amongst the five Boroughs, Queens and Brooklyn represent almost 80% of flood damages in NYC. The damages outside of the official FEMA 100 year floodplain are expected to be very steep, pointing to the existence of several buildings that may be part of the future 100 year flood zone under climate change scenarios. In NYC, less than a foot of flood water can produce more than $100 per sq ft in damage. A 1,000 sq ft residential flat could expect an average flood damage cost of more than $100,000!

Source: Low-Probability Flood Risk Modeling for New York City
Do you know the Flood Outlook Score of your property? Do you know if you are required or recommended to buy flood insurance? Know Your Risk, Protect Your Investment, and Live Beyond Floods!

Advice to NYC apartment renters: “[…] you may want to consider separate flood insurance. If you live on the ground floor of an apartment near a river that flooded during the last hurricane, a renter’s policy won’t cover the damage from that water.” Source: Renting An Apartment? This Mistake Could Cost You $5,000 Or More

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 “Over 400,000 New Yorkers reside in the city’s high-risk floodplain, as defined by FEMA’s 2013 Preliminary Flood Insurance Rate Map (FIRM) — a number larger than the entire populations of New Orleans, Cleveland, or Tampa.”

Source: Center for NYC Neighborhoods

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According to FEMA’s Coastal Flood Loss Atlas, more than 1 in 3 structures which would be affected by storm surge from a category 1 hurricane are outside of the regulatory special flood hazard area (SFHA). On October 29, 2012, Sandy made landfall as a post-tropical cyclone, though 15 hurricanes of
category 3 or higher have struck New York City in the last 200 years.

According to NOAA, global sea levels will rise between 8 inches and 6.6 feet by the year 2100.
In New York City, NOAA data indicates that by the 2020s the rise will be between 2 and 11 inches above current levels, and by the 2050s between 7 and 31 inches. This would mean nearly 50,000 structures could additionally find themselves within the 1 percent
annual chance flood plain by the 2050s.

Ten Riskiest Neighborhoods in NYC

Based on Average Flood Outlook Score of Single Family Homes Only
NEIGHBORHOOD – FLOOD OUTLOOK SCORE

Breezy Point – 1
Broad Channel – 1
Arverne – 3
Belle Harbor – 3
Neponsit – 4
Edgemere – 6
Rockaway Beach – 6
Sea Gate – 8
Coney Island – 9
New Dorp Beach – 9

Ten Safest Neighborhoods in NYC

Based on Average Flood Outlook Score of Single Family Homes Only
NEIGHBORHOOD – FLOOD OUTLOOK SCORE

Prospect-Lefferts Gardens – 72
Crown Heights – 70
Bronxdale – 69
Sunnyside – 67
Rego Park – 67
Mount Hope – 67
Fordham – 67
Concourse Village 67
Claremont Village 67
Borough Park 67