Flood Insurance Considerations To Keep In Mind

Dated: March 10 2013

Views: 3010

Elevated buildings in V zones that do not have obstructions or enclosures below the BFE are subject to less flood damage and thus lower rates are used to determine premiums for NFIP flood insurance. Some considerations affecting the rates and costs of NFIP flood insurance for elevated buildings in V zones include:

* The use of an enclosure with breakaway walls increases the premium for the entire building.

* An increase in the flood insurance premium resulting from the presence of an enclosure depends upon the area of the enclosure; substantially higher premiums are charged for enclosures that are 300 square feet or greater in area.

* The presence of garage doors below an elevated building, even if designed in accordance with this Technical Bulletin, may increase the flood insurance premium for the building.

NFIP flood insurance policies have limits on coverage of contents in enclosures under elevat­ed buildings. Designers, contractors, and owners may wish to contact a qualified insurance agent or the NFIP for more information about policy coverage, coverage limits, and costs.

The NFIP Technical Bulletins provide guid­ance on the minimum requirements of the NFIP regulations. Community or State requirements that ex­ceed those of the NFIP take precedence. Design profes­sionals should contact the community to determine whether more restrictive provisions apply to the building or site in question. All other applicable require­ments of the State or local building codes must also be met for buildings in all flood hazard areas.

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Jim Mazzerina

ABR, CRS, E-Pro, RSPS, SFR, SRES Jim is a “Jersey boy” originally from north Jersey in the Totowa, Little Falls area. He made the move to Stafford about 32 years ago, after finding the perfect....

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