*Did you know that you could save more than $90,000 over 10 years if you were to build your home 3 Feet above the Base Flood Elevation (BFE) level?
*Did you know that a history of (flood) claims could impact on future insurance rates?
*Did you know that approximately 25% of flood insurance claims arise form low to moderate flood risk areas?
” The base flood is a flood with a 1% chance of occurring in any given year. The BFE identifies how high the water is likely to rise (also called water surface elevation) in a base flood. The land area of the base flood is called the Special Flood Hazard Area, floodplain or high risk zone. ” (FEMA Fact Sheet)
If you are living in a moderate to low risk zone, (zones beginning with the letters B, C or X) you may not require an Elevation Certificate to determine the premium as the rates are not based on elevation.
For more information:
http://www.Floodsmart.gov – re: flood insurance, flood risk for homeowners
http://www.realtor.org/topics/national-flood-insurance-program-nfip
http:/http://www.realtor.org/news-releases/2013/11/realtors-demand-immediate-relief-for-homeowners-impacted-by-unforeseen-and-exponential-increases-in/giswww.westchestergov.com/gismap/default.aspx?OVMAP=&show=1
Mandatory Purchase of Flood Insurance Guidelines Booklet:
www.fema.gov/library/viewRecord.do?id=2954
Local companies that can assist in your flood insurance policies:
http://www.pureinsurance.com/high-net-worth-insurance/insurance-products/flood-solutions
to Order an elevation certificate:
http://www.elevationcert.com/order/order_start.asp
Map Service Center:
Speak to your Realtor before purchasing a home in a suspected flood zone. He/she will be able to direct you to insurance companies that will better answer your concerns and questions.
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