Are there grandfather rules to allow policyholders to maintain the current rating despite a map revision that places property in a higher-rated flood zone?

Yes. To recognize policyholders who have built in compliance with the FIRM and/ or remained loyal customers of the NFIP by maintaining continuous coverage, FEMA has “grandfather rules.” These rules allow such policyholders to benefit in the rating for that building. For such buildings, the insured would have the option of using the current rating criteria for that building or having the premium rate determined by using the BFE and/or flood zone on a previous FIRM that was in effect when the building was originally constructed (for those built in compliance) or when coverage was first obtained (for those with continuous coverage). This leads to cost savings to insureds when the new map resulting from a map revision would result in a higher premium rate.