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Private Flood Insurance

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(@howard-surveyor)
Posts: 163
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I've had a long experience with FEMA work so keep informed from them on what is going on. However, I don't know much about the private companies now providing insurance. I have a client who said he needed an elevation certificate,?ÿ go to his house to do the work,?ÿ and was told I only needed to certify the main floor (the house has flooded 5 times since he built it). I told him an elevation certificate covers more information than that so he called his agent after telling me he had a private policy.?ÿ

He called me yesterday and said his agent informed him FEMA will be doing away with elevation certificates as of October, FEMA will be creating a "new" way of determining how to rate structures, and nobody will be able to get flood insurance through FEMA until they decide how to do the new rating.?ÿ

I think the agent was blowing smoke. However, having not worked with private flood insurance carriers, I wonder if the PRIVATE insurance companies are restructuring how they rate structures. Any information or thoughts about this?

 
Posted : 29/07/2021 5:15 am
(@holy-cow)
Posts: 25292
 

I must agree that agent is blowing something, for sure.

But, Washington is Washington.?ÿ Who knows??ÿ It has been that way for decades.

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For those who don't recognize him, that is Will Rogers. He died in a plane crash in Alaska in 1935.?ÿ The most famous Okie of all time, except for Paden Cash.

 
Posted : 29/07/2021 5:50 am
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