The premise of flood-hazard mitigation is this: Spend federal funds now to remove the risk of flooding, and the federal government will save money in the long term because the mitigated property will generate no flood-damage insurance claims in the future.
This is because flood insurance is provided not by private insurers alone but in association with the Federal Emergency Management Agency (FEMA) through the National Flood Insurance Program.
The Northern Neck Planning District Commission works with homeowners and the Virginia Department of Emergency Management (VDEM) to assist the four Northern Neck counties through the FEMA application process for properties that qualify for a home-elevation grant.
Qualification for one of the various grants (RFC, SRL, or HMGP) depends on the history and cost of claims the homeowner has had up to the moment of the application. Depending on the grant, the property can be elevated as is, or be demolished and replaced with new construction.
Additional information can be found at VDEM’s Unified Hazard Mitigation Assistance Grant Program’s page.