Navigate 2024 with Wallet-Friendly Flood Insurance

Conduct thorough research on all 40+ private flood insurance carriers.

Experience frustration and confusion.

Reach out to a Flood Nerd for a complimentary quote and delegate the task to them.

If your home’s flood map changes, ensure to purchase your policy within 9 months of the map change to take advantage of subsidized NFIP premiums.

When purchasing a home requiring flood insurance, always request a copy of the flood policy Declaration page from the seller. If they possess a subsidized policy, a certified flood insurance agent (aka a Flood Nerd!) can secure you the same rate.

Consider obtaining an elevation certificate, as it may prove beneficial.

Installation of flood vents might alter the base elevation, thereby impacting insurance rates.

Consult with a Flood Nerd regarding flood mitigation strategies.

Explore property adjustments that can mitigate flood risk. The Flood Nerds possess extensive knowledge in this area. Inquire about:

• Elevating machinery or equipment above the base flood elevation (BFE). The BFE indicates the anticipated floodwater level as determined by the government. Failure to elevate these items above the BFE may result in surcharges.

• Adding flood vents if your home is elevated over a garage, enclosure, or crawlspace. This action removes the lowest floor from flood insurance rating considerations. However, there’s a crucial requirement for this strategy to be effective. The total square inches of the vent openings must equal or exceed the square footage of the vented area. Engineered flood vents are available, offering smaller openings while allowing more water passage beneath your living space.

• While flood insurance rates may not be directly affected, it’s advisable to consider flood damage-resistant materials, elevation of machinery, and other techniques to enhance home safety.

In extreme scenarios, reassess the location of your house. Elevating your building may incur significant expenses, but you may qualify for government grants in certain cases. If elevation isn’t feasible, explore alternative options by referring to the provided link.

Elevating your home 3 feet above the BFE can yield savings of up to 60% or more on your annual flood insurance premium. Even elevating it by 1 foot above the BFE can result in a 30% reduction. Utilize the provided resource to determine if this option aligns with your circumstances.

Explore the possibility of FEMA flood mitigation initiatives facilitated by your community, which may entitle you to community discounts. Check for available discounts through your community using the provided link.