M.D. asks from Aledo, TX on October 09, 2009
Information on Elevation Certificate for a Home
Has anyone had to get an elevation certificate for their home? Apparently, FEMA is in Tarrant county & revising all the flood maps/areas. I have a small corner of my property that is in a 50 year flood plain. I received a letter yesterday from my mortgage company telling me that I have 45 days to get flood insurance or they will get it for me! We knew when we bought the property of the flood plain but its the corner our driveway is the only thing in the flood plain, not the house. I spoke to my insurance agent & she told me that she thought the certificates ran around $400. Has anyone had to go through this & do you have any advice? Thank you!
B.D. answers from Dallas on October 09, 2009
I have. I believe our elevation cert costed around $150. We used ALS in Arlington and they were awesome. Because of the cert our flood insurance estimate went from $4000 a year (no I am NOT kidding) to $200 a year. It was definately worth every penny to have it done. Only half of our property fell in the zone as well.
J.R. answers from Dallas on October 10, 2009
I work for an insurance agency and it's true...you probably need a new flood cert. And it does make a difference in the premium. I haven't heard of how much it costs because I'm out of East Texas and there aren't a lot of flood areas around here. But if you don't have one and they rate you in the highest catagory...you don't even want to know what the premium would be....I've seen in the $1000's+! And for the person who mentioned the washer flooding, etc.-a lot of the better Homeowners policies cover that now...I haven't dealt with a lot of flood policies but I'm not sure that would cover the washer. I could be wrong but not sure on that.
L.J. answers from Dallas on October 10, 2009
my best suggestion is to get the insurance yourself. If your mortgage co gets it, it will probably be more. Ours is only about $200 per year, but it is well worth it. We've never needed it and even got something saying we no longer had to have it, but we keep it anyway, just for our own safety. I've known people whose houses have flooded and were very glad they had it and/or very sorry they didn't . I highly recommend you do it, though.
A.C. answers from Dallas on October 10, 2009
I don't know anything about it, but flood insurance might be helpful if your washer or dishwasher flood the house! I've heard stories about that...
C.B. answers from Dallas on October 10, 2009
FEMA revises and updates the flood maps every 10 years all over the country. It sounds like when you bought the property only a portion was in the flood plain, but not the house; therefore, no flood insurance was necessary. Now that FEMA has done their update, apparently the house is too. This type of flood insurance is different than internal water damage, say from a pipe leak, and all mortgage companies will have a mandatory requirement for it to protect their collateral. Obtaining an elevation cert is a job of a surveyor, and there are plenty of those around. You can call and get estimates for the best price. The surveyor will determine if the house is in the flood plain; the insurance company was able to tell if part of your property was in it, and that's what flagged the notice. In another 10 years, you may find yourself out of the flood plain!