You may be paying for flood insurance regardless of whether or not your property is located in a flood zone. Learn more about flood zones, how lenders determine your risk, and your rights as a property owner by contacting W.T. Dunahoo & Associates’ Matthew Sullins for a free consultation about your property.
Sullins Engineering, LLC can help you eliminate flood insurance
Common Questions About Flood Insurance
Why is your property located in a flood zone?
Flood maps are issued by the Federal Emergency Management Agency (FEMA). Certain areas are classified as Special Flood Hazard Areas (SFHA) and may be determined as low, moderate or high risk. FEMA requires property owners in high risk areas to purchase mandated flood insurance. FEMA does not study properties individually but rather classifies larger areas as SFHA.
How do lenders determine your risk?
In 1968, the US created a mandatory flood insurance program for property owners known as the National Flood Insurance Program (NFIP). The NFIP then uses the official map of a community on which FEMA has delineated both the special hazard areas and the risk premium zones applicable to the community. These maps are known as the Flood Insurance Rate Maps (FIRM). More information can be found at on FEMA’s website. A flood insurance company can also use an elevation certificate to assess the flood risk of the structure.
Do you have the right to challenge the flood classification of your property?
Yes, you have the right to dispute the flood zone classification and have it changed if you feel that the risk assessment is improper for your property. This can be done in two ways:
A Letter of Map Amendment (LOMA)
Letter of Map Admendment, or LOMA, is a letter approved by FEMA that permanently removes your structure from the flood zone. This is accomplished by submitting a MT-EZ Form to FEMA. The MT-EZ Form provides the necessary information for FEMA to make a determination if your property qualifies for a LOMA. The primary information FEMA looks at on this form is the 100 year base flood elevations from my study and the base floor elevation of your existing structure. Download an MT-EZ form from FEMA
An Elevation Certificate
An Elevation Certificate is similar to a LOMA but does not provide the 100 year base elevation. Therefore, it cannot remove the property from the flood zone but could possibly help in reclassifying the property to a lesser risk zone and reduce insurance premiums. Download an Elevation Certificate from FEMA
“So what do I do now?”
Contact Matt Sullins of Sullins Engineering, LLC today for a free consultation on your property, and he will then conduct a flood study analysis on your individual property to determine if your structure qualifies for a reduction, or even elimination of flood insurance.
My name is Matthew W. Sullins, owner of Sullins Engineering, LLC. I have worked as a Professional Civil Engineer collaboration with W.T. Dunahoo & Associates in Georgia for over twenty years.
If you are paying for flood insurance or you received a letter stating you are in a Special Flood Hazard Area (SFHA), call me with your questions, concerns, and property information.
I will then conduct a flood study analysis on your individual property to determine if your structure qualifies for a reduction, or even elimination of flood insurance. If you are already classified in a hazard area, I may be able to reclassify your property to eliminate costly insurance premiums. In some cases, (with a LOMA), you may even be entitled to a refund!
My years of experience have indicated that over 70% of homeowners should not be required to carry flood insurance. My services are a one-time fee, usually half the cost of your flood insurance premium. I offer a money back guarantee, if you hire me to conduct a flood study and I cannot reduce your premiums. I look forward to assisting you. For your free consultation, contact me today using the form below, or by calling me at 678-687-6219.
Disclaimer: Even if your property is removed from the flood zone, calculations show that 25% of all floods happen in low or moderate risk areas, owners may still want to consider purchasing flood insurance. Visit www.floodsmart.gov for information regarding a preferred risk policy for homes in moderate or low risk areas.