FLOODPLAIN EVALUATIONS
(Elevation Certificates)
SEC has the surveyors, engineers and certified floodplain managers to help guide you through the flood insurance process outlined below. We would be happy to speak with you to assess your needs and deliver the most accurate product available. Please call us at (928) 282-7787 to request a floodplain evaluation report.
The Federal Emergency Management Administration (FEMA) has recently updated and digitized their flood hazard maps. These maps are called Flood Insurance Rate Maps, or FIRMs.
These updated maps are intended to provide residents and other stakeholders with the most current information on flood risks and to encourage them to take steps to protect themselves and their property from the effects of floods.
Homeowners whose property is shown in a Special Flood Hazard Area (SFHA) must – by Federal law – carry flood insurance if they have a mortgage backed by federally backed lenders. If your property is shown in a SFHA, you do have options as to how you want to proceed with the purchase of Flood Insurance. The first step is to determine if your house is correctly identified as being in a SFHA. SEC can do a floodplain evaluation and report of options that are available to you. Possible options are:
The Federal Emergency Management Administration (FEMA) has recently updated and digitized their flood hazard maps. These maps are called Flood Insurance Rate Maps, or FIRMs.
These updated maps are intended to provide residents and other stakeholders with the most current information on flood risks and to encourage them to take steps to protect themselves and their property from the effects of floods.
Homeowners whose property is shown in a Special Flood Hazard Area (SFHA) must – by Federal law – carry flood insurance if they have a mortgage backed by federally backed lenders. If your property is shown in a SFHA, you do have options as to how you want to proceed with the purchase of Flood Insurance. The first step is to determine if your house is correctly identified as being in a SFHA. SEC can do a floodplain evaluation and report of options that are available to you. Possible options are:
- An error has occurred and you are not in a SFHA;
- You are in a SFHA and you need to talk to your insurance agent;
- You are in a SFHA but you are “grandfathered” and you qualify for a preferred risk insurance policy;
- An additional study of the property could possible remove you from the special flood hazard zone.
MORE INFORMATION
Is My House in a Floodplain?
Because of the limitations of the source maps used to prepare a FIRM, some properties may be on natural ground that is actually as high as or above the 100-year floodplain elevation. This elevation is known as the Base Flood Elevation, or BFE. If your lot is currently or proposed to be shown in the SFHA, this puts you under the requirement for flood insurance. Your situation may now be one of the following:
You should know that the mortgage lender may also require flood insurance even if you don’t need it. This is their prerogative. Again, the rates should be rather low in this case, but there are some costs nonetheless.
You can also take advantage of FEMA’s “grandfather” rules to obtain lower insurance premiums by applying for flood insurance through your insurance agent. The “grandfather” rules allow an owner to purchase a Preferred Risk Flood Insurance Policy based on the FIRM in effect when the insurance policy was issued.
Because of the limitations of the source maps used to prepare a FIRM, some properties may be on natural ground that is actually as high as or above the 100-year floodplain elevation. This elevation is known as the Base Flood Elevation, or BFE. If your lot is currently or proposed to be shown in the SFHA, this puts you under the requirement for flood insurance. Your situation may now be one of the following:
- Your lot is “in” the flood hazard zone but the lowest adjacent grade
(LAG) around your house is “out” or above the base flood
elevation (BFE). In this situation, it is possible that the flood insurance
requirement may be removed. This process is called a Letter of Map Amendment
(LOMA). SEC can assist you to complete the required forms and
other documentation that must be submitted to request a LOMA. Once a LOMA is
obtained, your insurance rates and possibly your insurance requirements may
drop. - Your LAG is below the BFE but the lowest finished floor elevation
(FFE) is above the BFE. In this case you need to purchase flood insurance.
An Elevation Certificate is necessary as a way to
determine your premium rate. - Your lowest FFE is below the BFE. This case
is similar to “2.” above but the flood risk is higher. Again, get an Elevation
Certificate to determine your premium rate. This process is done by a licensed
land surveyor who will measure the elevation of your FFE and the LAG to
determine your location relative to the flood hazard zone.
You should know that the mortgage lender may also require flood insurance even if you don’t need it. This is their prerogative. Again, the rates should be rather low in this case, but there are some costs nonetheless.
You can also take advantage of FEMA’s “grandfather” rules to obtain lower insurance premiums by applying for flood insurance through your insurance agent. The “grandfather” rules allow an owner to purchase a Preferred Risk Flood Insurance Policy based on the FIRM in effect when the insurance policy was issued.
