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16 Nov

5 Ways to Lower Your Flood Insurance Premium

Who doesn’t want to lower the cost of… everything? Flood insurance is one of those things where consumers might feel a little helpless because most flood insurance is issued through the Federal Emergency Management Agency (FEMA) so the rates are what they are. First, find a knowledgeable agent that really knows the National Flood Insurance Program. Second, check out our list of the top 5 ways to lower your premiums.

#1 Get an Elevation Certificate

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10 Nov

What Does an Elevation Certificate Cost?

We are asked this all the time and rightfully so. You are told you need to buy a flood insurance policy, which is separate from your homeowner’s policy. And then you are told you need a separate elevation certificate to calculate the proper premium. Or maybe you already have flood insurance and you were told getting a proper elevation certificate could lower your rising premium. So what does the elevation certificate cost?

The national average cost for an elevation certificate is about $600 and the range is about $169 to $2,000 or more. There are a lot of reasons elevation certificate costs vary, including: occupancy type, structure type, demand, location, timing, data, and quality.

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02 Nov

Should I cancel my flood insurance policy? Part 2: Facts and Data.

This is a follow-up on our last blog about the conversations we have with property owners wanting to cancel their flood insurance policy. It’s a complex decision that affects the risk we accept and how we mitigate that risk. If you like facts and data, here’s some information that might help make a decision that’s right for you.

Homeowner’s insurance does not cover losses from flood disasters. This is the primary reason it’s a big deal. You need a separate flood insurance policy to be protected from flood disasters.

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26 Oct

Should I cancel my flood insurance policy? Part 1: Conversations with Property Owners.

Property owners cancel their flood insurance policies for a lot of reasons. It can be an expensive policy to carry, so we understand. At MassiveCert we are in the business of helping homeowners untangle the requirements and regulations to get the flood certification you need as easily as possible. We are on your side.

Here are some of the conversations we’ve had with concerned property owners like yourself that are thinking about dropping their flood insurance policies.

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30 Sep

The FEMA 100 year flood zone explained.

I use the term “100-year flood zone daily for elevation certificates, LOMA’s, and explaining flood maps. But it doesn't mean what you might think. It means there is a 1% chance you will see a flood like the one on the FEMA flood map each and every year. Since 1% is also "1 out of 100", the term "100-year flood" was adopted because that's easier to talk about than rattling off a bunch of statistics.

FEMA sometimes shows a 500-year flood on their maps and that is technically the 0.2% annual chance flood. Try saying "zero point two percent annual chance flood zone" two dozen times a day and you can see why we use the short version.

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