Flood Insurance Considerations To Keep In Mind

Dated: March 10 2013

Views: 3150

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.

Blog author image

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....

Latest Blog Posts

Question Of The Year

When should you sell your New Jersey home?Sometimes life changes — expected or not — can require selling during a slower month or time of year. That's ok! The most important factor in

Read More

Come Support Local Theatre Kids

The Sun Will Come Out Tomorrow!Come see Stafford Township 6th Graders in Annie, Jr.  These kids have been working hard the past few months in rehearsals and are ready to show off all their hard

Read More

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 011620220120232022

 Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 01/16/2022-01/2023/2022Long Beach Island Real EstateLBI Real Estate Weekly Sales Update 01/16/2022-01/2023

Read More

Tastiest Wings On Lbi

So you have heard of Buckelews and of course the CHEGG (The Chicken or the Egg)....BUT....Have you heard of the Arlington?  The Arlington has a more limited menu but the food is  

Read More