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Ae flood zone insurance rates3/1/2024 ![]() Without vents, that crawl space, garage or unfinished access level is considered the lowest level. When you add venting, you remove the lowest floor from the rating consideration. This is perfect for homes elevated over a crawlspace, garage, or unfinished lower level. One great way to do this is with flood venting. We just might have some ideas on improvements that can reduce your NFIP flood insurance premiums. Let the Flood Nerds look at your property and EC. Method 4: Make Flood Mitigation Improvements Did you know there are some improvements you can make to your property that will significantly reduce your premium? The Flood Nerds know this stuff because we are obsessed with all things flood insurance related. And it takes the issue of flood insurance off the negotiation table. The policy is transferable to the buyers and they’ll love that reduced rate as much as they love the quartz counters in your kitchen. Even if you are planning on selling your home, get the PRP policy while it is available. If you don’t act in time and miss the deadline, you really pay for your procrastination. You get the reduced rate because the government heavily subsidizes the premium and gives you access to a Prefered Risk Policy (PRP). If your home is moved into a higher-risk flood zone, say from an X to an AE, then you have one calendar year to purchase a flood insurance policy at a significantly reduced rate. These new maps can move properties into or out of lender required flood maps. Method 3: Buy Your Flood Insurance As Soon As Your Flood Zone Changes FEMA rolls out new maps every few months. We can also see if the private market is a better way for you to get flood insurance coverage. The Flood Nerds can get you an estimate for an EC if you need one. That’s why we recommend to homebuyers that if the lender requires flood insurance, ask the seller to provide you with an EC or compensate you for the cost of obtaining the EC. But the Flood Nerds know all about the NFIP and their obsession with ECs. Yep, you end up paying for your agent’s ignorance about flood insurance. You could ask them about the increases and they won’t even know why they are happening or how to make them stop. Most general insurance agents are not Flood Nerds. And to make matters worse, you must pay to get the EC they want so very badly. Unfortunately, most people don’t even know this is what is happening to them. They try to force you to comply and bend to their will by penalizing you with higher premiums. You see, the NFIP believes every property should have an EC. Method 2: Get an Elevation Certificate (EC) Is the premium for your NFIP flood policy increasing every year? Does it always go up about 25% per year? You could be impacted by a standard increase the NFIP applies to any property that doesn’t have an elevation certificate (EC) applied to the policy. This can save hundreds in flood insurance costs. With this method, we grandfather the flood insurance premium under the historical map as “built-in compliance at the time of construction”. So, a home might be built to low risk flood zones code (X flood zone) and a new map moved the home into a higher risk flood zone (AE flood zone) 15 years after the home was built. This is helpful when the flood zone map changed after the house was built. If your house is in a neighborhood where developers built homes after 1974, a historical map can show that the house was built to comply with the flood zone code in effect at the time of construction. This works when the home was built to flood compliance at construction time but the map changed later. Get a Quote Method 1: Look for a Historical Map One way to score a better rate is to grandfather the property in under a historical map. You can fill out our form and let us sniff out your savings. Or, you can take the easy way to save money. You can use the information on this page to shop all the options yourself. And when you unleash the Flood Nerds you do the things you want while we do what we love – finding people an affordable price and great coverage for their flood insurance. With many different options available, you probably don’t have the time, energy, or expertise to look at them all. We also shop on our lender-approved private flood insurance markets. The Flood Nerds ™ use 5 proven ways to control flood insurance costs.
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