When the chance of occurrence of Flood in one year is 1%, it is OK right? It is only a meager chance isn't it?

Well, this chance of flood occurrence is designated as the Special Flood Hazard Area by FEMA in the Flood Insurance Rate Maps, which is the highest hazard designation. This can cause confusion for people not familiar with statistics. Another way of looking at the same type of flood, by statistics, is that the chance of occurrence of the same flood some time during the life of a 30-year mortgage is 26%.

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1. I want to apply for my Flood Insurance, now my insurance company is asking for an Elevation Certificate. Where can I get this?
2. My Insurance company says that I am in a Flood Zone, but I come to know from other sources that I am not in a Flood Zone, where do I find the correct information?
3. What does it mean when you say my property is in a particular Flood Zone?
4. What does it mean when you say that the Base Flood Elevation for my property is of this particular value?
5. When the chance of occurrence of Flood in one year is 1%, it is OK right? It is only a meager chance isn't it?