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.”
This past Tuesday, the House voted overwhelmingly to pass a bill that would largley repeal Biggert-Waters, a bill which saught to balance FEMA’s enormos debt by expanding flood insurance risk pools and increasing premiums. The new bill, called the Homeowner Flood Insurance Affordability Act, limits premium increases from the National Flood Insurance Program (NFIP) to 18% a year.
The new bill makes several key changes that homeowners should immediately feel, in addition to the limit on premium increases.
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.
No one wants to deal with the cleanup and repair costs associated with extensive flood damage to any property. For this reason, there are a number of proactive steps that you can take to avoid flooding on your property in Connecticut. Depending on the kind of flood risks in your location, the zoning and building codes, and the type of home or property you own, some flood preventive measures can be simple and quite inexpensive while others may necessitate the services of a professional civil engineering company. Below are some important steps to take to prevent flooding on your property: