I got a call from a property owner who had an elevation certificate done in 2007, by others. The elevation certificate was done on the form that expired in 2009.
The insurance company is now saying that the elevation certificate is no longer valid because the form expired. Is this correct?
I looked at the latest FIRM and the BFE is the same.
Anthony
"not valid" as in they won't issue a policy based on it?? I supposed that is their decision.
Tell them to call the surveyor who did the one in 2007. They should be able to revise it quickly.
I think your client is getting bad advice and should find a new insurance agent. FEMA will accept any form as long as the information reflects the current map/panel/effective date, etc.
Sounds like money to be made. Kinda like ACAD and Microsoft. Obsolete every 5 years, gotta get a whole new one.
The certificate doesn't really expire once filled out. It is valid until there is a significant change in the way business is done....like Biggert Waters. Otherwise, it is good as gold.
The expiration date printed on the certificate has been ignored in the past by FEMA when they still haven't issued a new form by the expiration date on the old form. So, claiming that date makes it invalid is nonsense.
Too funny! Call this person back and ask to speak to their supervisor...
I do know of lending institutions not accepting older certs because the info on them is not current. But that's up to them.
Have the FEMA maps changed or just the cert is out of Date?
has there been an update in maps since the 2007 cert was issued?
If it's just the same info on an out date form than it's still good. If FEMA has changed maps or info it certainly isn't valid.
I told them to go ask another insurance company for a quote based on the current certificates, and sure enough they were accepted without question.
Again, some of you folk are giving too much credit to insurance agents and real estate agents for knowing technical information.