What is the historical cost data? The Center for American Progress conducted an analysis and found that the federal government—which means taxpayers—spent $136 billion total from fiscal year 2011 to fiscal year 2013 on disaster relief. This adds up to an average of nearly $400 per household per year.

The fact is that FEMA does give a lot of money to help people, but there’s a true limit. In Fiscal Year 2017, the limit was $33,000 her household, and adjusts slightly each year. Don’t get your hopes up though, the average payout is around $7,000-$8,000 per household.

Although a federal aid program to help disaster victims can provide as much as $33,000 per household, typical grants run a fraction of that amount, averaging $8,000 or less, according to an analysis by The Advocate of payouts in a dozen recent high-profile disasters.

A historical cost is a measure of value used in accounting in which the value of an asset on the balance sheet is recorded at its original cost when acquired by the company. The historical cost method is used for fixed assets in the United States under generally accepted accounting principles (GAAP).

Floods are unpredictable. FEMA maintains and updates data through flood maps and risk assessments. Flood maps show how likely it is for an area to flood. Any place with a 1% chance or higher chance of experiencing a flood each year is considered to have a high risk.

Zone A is the flood insurance rate zone that corresponds to the I-percent annual chance floodplains that are determined in the Flood Insurance Study by approximate methods of analysis. Because detailed hydraulic analyses are not performed for such areas, no Base Flood Elevations or depths are shown within this zone.

Flood zone X, also known as flood zone X500, is arguably the safest flood zone designation, as it’s considered to be outside the 500-year floodplain and is also protected by a flood control system, such as a levee or dam, from the 100-year floodplain.

Along with the potential benefits, there are disadvantages to purchasing a home in a higher-risk flood zone. First, flood insurance, especially if it’s required, can be expensive. The average annual cost for an NFIP policy is about $700, but the premium you pay can vary depending on your location.

ZONE A Area inundated by the Base Flood with no Base Flood Elevations determined. ZONE AE Area inundated by the Base Flood with Base Flood Elevations determined.

Defining AE flood zones AE flood zones are areas that present a 1% annual chance of flooding and a 26% chance over the life of a 30-year mortgage, according to FEMA. These regions are clearly defined in Flood Insurance Rate Maps and are paired with detailed information about base flood elevations.

Flood zones are primarily determined by the history of flooding in the area. Each zone is rated according to the probability of annual flooding.

Construction In A Floodway A Floodway is the channel of a river, creek, or other watercourse and the adjacent floodplain. A FEMA permit for a Floodway Encroachment is required for construction in SFHA Zones, and the lowest floor (including basement) must be built above a BFE.

The lowest floor elevation for rating is Item C2. b, top of the next higher floor, as long as the building is not located in a V Zone (Building Diagrams 7 and 8).

However, a recent investigation by the Department of Homeland Security’s Inspector General revealed that 58% of all FEMA flood maps are considered inaccurate or out-of-date. Inaccurate and out-of-date flood maps put communities at risk.

To better reflect your current flood risk, the National Flood Insurance Program (NFIP) and the Federal Emergency Management Agency (FEMA) use the latest technology and data to update flood maps nationwide.

These maps must remain accurate, because communities rely on them to assess flood risk. A 2017 report from the Department of Homeland Security’s Inspector General’s Office found that despite the program’s goal of having 80% of its maps up-to-date, only 42% currently reflected accurate flood risk projections.