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Condominium Associations

OPPORTUNITIES & OPTIONS FOR CONDOMINIUM ASSOCIATIONS

Reduce Insurance Expenses, Increase Property Value, Pass Along the Savings

Flood risk management is a viable solution for condominium associations when:

  • Mortgage companies require condominium unit owners to provide proof of the association’s flood coverage or
  • to purchase individual flood insurance policies
  • Association fees include flood insurance for common structures
  • Condominium buildings have been free of flood damage since construction

 

Flood risk management enables condominium associations to save money every year, reduce operating expenses, lower unit owner fees and eliminate the need to provide unit owners with certificates of flood insurance. 

 

Condominium association clients can expect to save approximately $8,000 every year.  

You have a right to know if you’re paying too much, too little, or should note be paying at all for flood coverage. Flood Insurance Solutions will verify the accuracy of the requirement, which includes an elevation certificate review; determine if the property can be reclassified; and identify the potential to reduce or eliminate the flood insurance premium. 

 

“For every $5,000 a year your flood insurance goes up, you’re losing $100,000 in property value.”

CNN MONEY

There’s no downside

to being proactive about flood risk 

Our free flood risk evaluation studies characteristics unique to the property, not just the property’s location on a Flood Insurance Rate Map (FIRM). 

Following the evaluation, if we find that the property’s high-risk flood zone is wrong, with your approval, we’ll begin the complex process of petitioning FEMA for reclassification of the property into a low-moderate risk flood zone, where flood insurance is not required. 

 

Our one-time fee* is equal to the amount of the annual flood

insurance premium. It is contingent upon our successful removal of the property from the high-risk flood zone (Special Flood Hazard Area). If we find that the property is correctly designated in a

high-risk flood zone, no fees are due and you have expert validation of the flood insurance requirement. 

 

Ready to eliminate your condominium association’s unwarranted flood insurance expenses? Obtain a free flood risk evaluation. 

  

* Does not include fee for elevation certificates, if required. 

What clients have to say

Specifically, I would like to mention the work recently provided on a large acquisition of five hotels in Key West (FL). Due to your expedited service in obtaining elevation certificates and your knowledge of NFIP, we were able to achieve savings of over $75,000 in annual NFIP premiums.

Lockton

Risk Management Broker, Dallas, TX

What clients have to say

…much appreciated. all your efforts communicating and being nice!

Duane K.

Single-family Homeowner, Ben Lomond, CA

What clients have to say

As the largest provider of federal flood insurance (NFIP) policies in the U.S., we highly recommend the elevation certificate services. Their national network of licensed surveyors and engineers, combined with their expert knowledge of NFIP rules, ensures that our customers receive accurate elevation documents, which, in turn, enables us to provide properly rated policies. 

Write Your Own (WYO) Flood Insurance Carrier

St. Petersburg, FL

What clients have to say

The benefits …were realized almost immediately. My clients realized the immediate premium savings and ultimately appreciated the fact that the value of their assets increased given the

improvement of the flood determinations and the reduction in flood insurance premiums… . I highly recommend Flood Insurance Solutions, Inc. as a source to address your clients’ flood insurance with and perhaps more importantly, I deem them to be an honest and trustworthy company to improve and rectify your clients’ flood insurance issues. 

Risk Management Advisor

Mahwah, NJ

We’re Here to Work with You!

PH: 1 (561) 922-9735

Fax: 1-866-427-2272

100 E. Linton Blvd., Suite 401A

Delray Beach, FL 33483

Email: info@floodinsurancesolutions.us

Email: checkmyfloodzone@floodinsurancesolutions.us