Single-family Homes
OPPORTUNITIES & OPTIONS FOR SINGLE-FAMILY HOMEOWNERS
Reduce Expenses, Increase Value, Save Money
Flood risk management is a viable solution for single-family homeowners when:
- The mortgage company requires the purchase of flood insurance
- The property has been free of flood damage
- The property's structure is not a mobile home
Over the course of a 30-year mortgage, a single-family homeowner required to purchase flood insurance will spend, on average, $21,000. That represents a huge loss in property value and the ability to save more than $700 every year.
If the mortgage company did not require flood insurance, would you eliminate coverage or purchase a less expensive policy? Flood risk management gives you the option to choose.
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.
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 and payment of a one-time fee of $395*, we'll commence the complex process of petitioning FEMA for reclassification of the property into a low-moderate risk flood zone. In a low-moderate flood zone, flood insurance is not required and you have the option to cancel the policy or to purchase less expensive coverage (Preferred Risk Policy).
You only pay for success. Over 90 percent of the single-family properties we've evaluated were in the wrong flood zone. For single-family homeowners with a mortgage, an insurance refund handily offsets our one-time fee. If we're unsuccessful in removing the property from the high-risk flood zone, we'll return the one-time fee paid.
Is your single-family home subject to unwarranted flood insurance requirements? Obtain a free flood risk evaluation today.
*Does not include fee for elevation certificate, if required.