If you need flood insurance, you will also need a FEMA Elevation Certificate
Where do I get an Elevation Certificate for my Whidbey Island property?
You may have recently refinanced your home or took out a line of credit and were told that you must buy flood insurance. You may also have an existing mortgage and the bank has called and told you that you must buy flood insurance. In either case, if you don’t get adequate flood insurance, the bank will actually purchase the insurance for you and add it onto your monthly mortgage payment. This could actually cost you thousands of dollars on a yearly basis because the bank will purchase high-cost and high-coverage flood insurance to make sure their investment is covered, and because you are actually paying for it.
This is the case because in 1973, Congress passed the Flood Disaster Protection Act. Part of this act requires that buildings in identified flood hazard zones receiving loans (mortgages, LOC’s) from Federally insured or regulated lending institutions must have flood insurance. Due to heavy losses in recent years (notably several Mississippi River system flood events), the government has cracked down hard on lending institutions, forcing them to review their loans to ensure that buildings in flood zones have insurance.
If your lending institution has contacted you, you need to be proactive. Contact your insurance agent immediately to get started. The agent will want to see an Elevation Certificate. If your home was built after 1984 (this may be different depending on where your propert is located), you may already have one on file at the City Building Department (if you live within city limits) or at the County Planning Department (if you live in unincorporated Island County).
These certificates are often completed as part of the building permit process, but many were often overlooked in the ‘80’s and early ‘90’s, so they may not exist on your property. If you cannot find one in the public archives, then you must be able to show your insurance agent that your house is high enough not to sustain major damage in a flood, or that it is actually not in a flood area. This is done by obtaining the FEMA Elevation Certificate on your own.
Where do you get an elevation certificate? we at TMI Land Surveying, Inc. are able to provide elevation certificates. In fact we have completed hundreds of FEMA elevation certificates on Whidbey Island over the years. The cost of obtaining the certificate will often be paid back in a very short amount of time through reduced insurance premiums.
If you think you need a FEMA elevation certificate and your property is located on Whidbey Island, please contact TMI Land Surveying, Inc at 360-331-7393 and ask for a free quote on an Elevation Certificate for your property. Or click here to contact us via our online contact form.
We look forward to hearing from you!