Flood Plain Mapping
Paying For flood Insurance? You may not need it
Without an Elevation Certificate your insurance rate defaults to the highest flood risk category. Nederveld may be able to amend the flood maps to remove your house from the flood zones.
Our professional land surveyors can gather the necessary measurements to accurately determine the flood elevations around your home. An Elevation Certificate can:
• Reduce/eliminate your flood insurance
• Get an annual savings of $300 - $3000
Do you qualify? Or, have additional questions?
Call Today for a Free Estimate – 800.222.1868.
Is flood insurance necessary?
Many homes do not warrant flood insurance, however due to tougher regulations and revised flood zone maps, lenders are requiring it. Homeowners need to be proactive by hiring a professional land surveyor to determine if flood insurance is really necessary.
How can Nederveld help?
Our trained staff can help determine your exact property elevation in order to understand your need for flood insurance. Obtaining an elevation certificate is the first step. An elevation certificate will determine your adjusted rate for flood insurance or be the key document in removing the need for flood insurance. Filing a Letter of Map Amendment (LOMA) is the next step.
What is a LOMA and what does it do for me?
A Letter of Map Amendment (LOMA) is a document that will revise the Federal Emergency Management Agency (FEMA) flood map. A LOMA is prepared by a professional land surveyor and submitted to FEMA for a map revision. Many times this step completely eliminates the need for the homeowners to pay flood insurance.
What if my lender is requiring flood insurance?
A qualified professional land surveyor can gather the necessary measurements to accurately determine the flood elevations near your home. When this analysis leads to filing a LOMA with FEMA, 90% of the time the surveyor is able to eliminate the need to pay for flood insurance.
How much will this service cost me?
The cost for the analysis varies depending on the available data. Generally, the cost to file the complete LOMA can be done as low as $500. If only the first step of the LOMA process (obtaining an elevation certificate) is necessary, then that rate is less. If many neighbors in the same area apply for the LOMA together, the cost per homeowner is significantly reduced.
How much can I expect to save after I spend the money on a LOMA?
Flood Insurance rates vary significantly from property to property. Without at least the first step of the LOMA process, which is an elevation certificate, your rate defaults to the highest risk category. An elevation certificate will at least properly establish your flood rate if you are still required to carry it. You could expect to pay $300 to $3,000 annually in flood insurance without an elevation certificate. Over the term of a 30-year mortgage this could be as much as $9,000 to $90,000. The cost of the elevation certificate and LOMA could easily be paid back in the first year.
How long does the process take?
Professional Surveyors can utilize an electronic filing process if the proper conditions exist. This eLOMA can be filed with results back in a matter of days after the site analysis is completed. Most of the time this entire process takes only a week or two to complete.
Will my lender accept a LOMA Certificate?
Yes, a LOMA certificate is the accurate document your lender and insurance company need to determine your flood insurance needs. FEMA issues a LOMA certificate as evidence of your homes relationship to the flood zones.
National Flood Insurance Program (NFIP)
Our survey group, led by our experienced team of Professional Surveyors, can assist you in floodplain matters including staking, evaluating and determination.
The National Flood Insurance Program (NFIP) was created to provide protection for property owners against potential flood losses and is managed by the Federal Emergency Management Agency (FEMA). Our experienced survey team has worked with real estate professionals, lenders, insurance providers, developers and homeowners to assist in preparing the necessary documents to reduce or remove flood insurance.
Two of the most common forms that are used are the Elevation Certificate and the Letter of Map Amendment (LOMA). The Elevation Certificate is typically used by the insurance provider to determine the premium for the policy. It also is used to determine if the property or structure may be removed from the floodplain by using the LOMA form.
Our staff can visit the site to take the appropriate measurements to complete the Elevation Certificate to determine if the structure or property in question can be removed from the floodplain, and fill out the appropriate forms in order to submit to FEMA for their determination and or removal.