Elevation certificates (EC) are necessary when your home or business is in a high flood risk area. Your insurance agent uses the data from an elevation certificate to determine your flood insurance premium. FEMA provides a clear and detailed summary of who needs elevation certificates and why here: https://www.fema.gov/media-library/assets/documents/32330 If the data collected for an EC shows that your home is above Base Flood Elevation (meaning that there is a 1% or less chance that floodwaters will reach this elevation in a given year), it may be appropriate to apply for a Letter of Map Amendment. A LOMA is issued when a property “has been inadvertently mapped as being in the floodplain, but is actually on natural high ground above base flood elevation.”
Florida agency selling private flood insurance said it is now selling the coverage in 15 states and making it available to commercial risks and apartment buildings.
In a vote on January 30th, 2014, the senate passed a bill that will delay flood insurance hikes for at least four years.
Finally an alternative in flood insurance for Connecticut
A private flood insurer has stepped into Connecticut’s market, the first time homeowners along the shoreline battered by Superstorm Sandy have an alternative to increasingly costly federal insurance.
The U.S. Senate is expected to take a key vote soon on a bill that would delay some of the flood insurance rate hikes triggered by the Biggert-Waters Flood Insurance Reform Act of 2012.