What is a Flood Elevation Certificate?
Did you know a flood elevation certificate is not required for flood insurance?
What is a Flood Elevation Certificate?
An elevation certificate is a document used by the National Flood Insurance Program (NFIP) to assess your property's specific susceptibility to flood damage.
The certificate shows your property's location, flood zone, building characteristics and the base flood elevation on a map as compared to the elevation of the property’s lowest floor. Under Risk Rating 2.0, this information is no longer required by the NFIP to get a flood insurance quote, but it may be submitted with your application to determine if it will lower the cost of your policy. Also, it can also be used to submit a request to FEMA for a letter of map amendment (LOMA) if you are trying to have your property's flood zone designation changed.
How Do You Get a Flood Elevation Certificate?
It's possible your home already has an elevation certificate on file. When buying a home in a flood zone, you should always ask the seller or home builder if they have an elevation certificate. If they not, you may want to contact your local floodplain manager to see if they have a copy on file. If you are able to obtain one, you'll want to learn How to Read a Flood Elevation Certificate.
If none exists, you can hire a professional land surveyor to evaluate your property and complete a new certificate. However, obtaining an elevation certificate on your own can be costly and time consuming. Costs can vary significantly depending on your location and the complexity of the job. For a typical residential property, costs average between $600-$2700, but it could be higher in certain areas. It usually takes one to two weeks for the certificate to be completed.
Thankfully, flood insurance is available without the need for an elevation certificate.
How to Get Flood Insurance Without a Flood Elevation Certificate
Quality flood insurance is available without the added expense and trouble of getting an elevation certificate. FloodPrice can compare the rates for both private flood insurance and the NFIP to make sure you are getting the right coverage for the best price. Check out our quote page now to find out what coverage we can offer.
