Over time, you can save thousands of dollars by reducing or eliminating your flood insurance. Rates vary depending on the value of your home, but even if your flood insurance premium is just $350 annually, you could save $10,500 over the course of a 30-year mortgage. The higher your premiums, the more you may save.
Fast Cost Recovery
The cost of a flood risk analysis by Moore & Bruggink is not tied to the value of your property, but is dependent on the geography of your property's location.
The cost may be reduced if one or more neighbors schedule a flood risk survey on the same day. In most cases, the cost of the survey and analysis is recovered in less than three years.
Full Documentation for LOMA or alternatives
Step by step, this is what we do to ensure an accurate analysis of your property.
- We obtain a copy of the most current FIRM from FEMA.
- An onsite survey is performed by one of our expert teams
- We complete a thorough analysis of the survey and assemble full documentation including an Elevation Certificate and the LOMA application.
- If there is a discrepancy between our survey and that of the current FIRM, and the discrepancy favors the placement and elevation of your structure, we send our documentation to FEMA with a request for a LOMA.
- When we receive the LOMA from FEMA, we compile complete documentation along with a recommendation for elimination or reduction of flood insurance.
- This documentation and recommendation can be submitted to your realtor, lender and insurance company.
If our analysis reveals that your property is indeed in a flood zone, we offer alternative measures to help you protect your property and reduce or eliminate the need for flood insurance.
These may include:
- Physical property improvements such as seawalls, relandscaping, fill dirt to build elevation, and more.
- An integrated plan that details costs and offers a payback analysis that compares the cost of property improvement to reduced property insurance premiums.
After the improvements are made, a second survey is completed and a request to FEMA is made for a LOMA.