If your property is in a flood zone, it may be time to talk to a professional surveyor about your flood risk. Flood insurance premiums continue to rise as regulations continually change. Unnecessary flood insurance plagues many home and business owners, resulting in extremely high rates. Whether you have seen an increase in your insurance premium, just purchased property that requires flood insurance, or just want to know how you can reduce your rates, a professional flood zone specialist can help you save money.
What Factors Determine Flood Insurance Costs
Many factors influence how your flood insurance policy is rated. Those factors include the following:
- In what flood zone is your property located? There are different risk zones used when factoring what kind of coverage you need for your property. Low-risk zones require less insurance coverage, while high-risk zones require more.
- The age of your structure. The age of your structure can factor into your rating.
- In what community is your property located? Some communities have floodplain management policies that are proactive and reduce the insurance payments required of those within the community.
- What is the elevation of your lowest floor? The difference between the elevation of your lowest floor and the base flood elevation weighs heavily on your flood insurance rates. If you are in a flood zone that leaves your lowest level well below the base flood elevation, your rates will be higher.
- The amount of flood insurance required. The more expensive the value of your property, the higher the insurance coverage you will need. Some states and lenders also require a minimum coverage amount.
Why Hire a Professional Flood Zone Surveyor
Professional Flood Zone Specialists Understand the Rules of FEMA
Surveyors Understand What Determines Insurance Premiums
Professional Flood Zone Surveyors are Impartial
There are a variety of factors that can increase the cost of your insurance premium. Flood zone insurance companies are part of a competitive market. When you hire a professional surveyor, you will get the professional elevation measurement services you need from someone who is impartial. Surveyors can aid you with the expertise you need to navigate insurance companies to give you the rate you deserve.