Final answer:
Based on the information provided, the buyers of the properties in Zone A that are higher than the calculated BFE in the flood study may not have to buy flood insurance policies, but they should consult with their insurance provider or local authorities for specific requirements.
Step-by-step explanation:
Based on the information provided, if the developer conducts a detailed flood study that is approved by the Town Engineer and shows that several lots in Zone A are higher than the Base Flood Elevation (BFE) calculated in the study, it is unlikely that the buyers of those properties will have to buy flood insurance policies. Flood insurance is typically required for properties located in areas designated as high-risk flood zones, such as Zone A, where the BFE is lower than the ground elevation. However, specific regulations and requirements may vary depending on local laws and policies. It is recommended for the buyers of these properties to consult with their insurance provider or local authorities to verify if flood insurance is required.