Elevation plays a critical role in determining flood risk and flood insurance rates. A couple of feet, a few documentation errors or significant omissions can make a considerable difference in the amount property owners pay for coverage or measures implemented to mitigate flood damage. In Charleston, SC, city officials consider raising elevation guidelines to reduce […]
Flood Risk News & Notes: Rates, Maps, Regulatory and Elevation Matters
From the headlines to your bottom line, this edition of Flood Risk News & Notes includes another extension of the National Flood Insurance Program (NFIP); an increase in flood insurance premium rates; flood map changes in more than 70 communities around the country; and a reminder about elevation certificates. Below you will find a summary […]
Spot Elevation Certificate Errors to Eliminate Unwarranted Flood Insurance Expenses
The National Flood Insurance Program (NFIP) requires an elevation certificate to certify the elevation and other characteristics of a building to determine an actuarially sound flood insurance rate. Errors or omissions lead insurance agents to misrate flood insurance policies, resulting in liability for the surveyor, insurance agent, and most importantly, property owner. Because of elevation […]
Elevation News to Manage Flood Risk – Noteworthy Takeaways from Bergen Co., NJ
Elevation plays a critical role in determining flood insurance rates. A couple of feet, a few documentation errors or significant omissions can make a considerable difference in the amount property owners pay for coverage or measures implemented to mitigate flood damage. In Bergen County, New Jersey, FEMA is in the midst of updating the area’s […]