Standard homeowners insurance doesn't cover flooding. In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. Homes and buildings in high-risk flood areas with mortgages from federally regulated or insured lenders are required to have flood insurance. FEMA provides for participating communities Flood Insurance Rate Maps (FIRMs) which show where the highest risk properties are.
Two of the most common ways in which a Land Surveyor helps with Flood Insurance are;
Elevation Certificates- Using the FEMA specified form a surveyor will provide elevation and construction detail information. Depending on the details supplied, the Insurance rate for the site can be reduced significantly.
Letters of Map Amendment (LOMAs) Are where homeowners using data supplied from a Land Surveyor can apply to FEMA to have their property or more commonly their structure removed from the Special Flood Hazard Area shown on the FIRM applicable to their property. If FEMA accepts the application the homeowner can either completely cancel their flood insurance and get their current years premiums refunded{with the lenders approval} or the homeowner may get a Preferred Risk Policy.(premiums cut 70-80%, some times more)
Footsteps Surveying