During our flood insurance zone change series we have discussed what is a letter of map amendment and what is a letter of map revision. In today's blog and video we are discussing this same process on structures that are under construction.
When building a home its important to have a survey done before construction starts. Many times to get flood insurance during the building process FEMA will require it. This will also allow you to see how the property relates to the base flood elevation before building. Its also important to understand with either the LOMA or LOMR process they are going to want to wait until construction is complete before approving any new flood zone changes.
One of the reasons is that the lowest adjacent grade and the highest adjacent grade will need to be inspected by the local flood plain manager post completion. Its also important to understand when purchasing a lot to build on it is not guaranteed that the property will get removed. Its important to work with a flood insurance expert like The Flood Insurance Guru who works with local flood plain managers everyday.
Another issue that needs to be known is lets say it takes 9 months to build the structure. Then thats 9 months of flood insurance that would be nonrefundable. Since the properties flood zone would not be changed until after completion thats the soonest the flood insurance could be cancelled out.
Now that we have discussed the flood insurance zone change process on properties under construction we can talk about the actual process of getting a flood insurance zone changed. We will be discussing that in episode four of our flood insurance zone change series. If you have questions about your current flood zone, maybe how to change it, or if your rate is too high please visit our website The Flood Insurance Guru. Also make sure to subscribe to our YouTube channel The Flood Insurance Guru and like our Facebook page The Flood Insurance Guru where we do daily flood education videos.
You can also learn more about flood insurance zone changes by clicking the button below.