Flood Elevation Certificates and Flood Insurance in Beach Haven West
Hurricane Sandy and Beach Haven West
When Hurricane Sandy made landfall at the end of October 2012, the storm caused major damage to Beach Haven West. Many homes were flooded which for the first time in many years, called into action flood insurance. Homeowners had to wrestle with flood insurance companies to obtain payments for reconstruction and remediation. With new flood maps in homes and changes made to the national flood insurance program, many homeowners, buyers, and sellers have been wondering how to determine the cost of flood insurance in Beach Haven West. The good news is, flood insurance rates are fairly standardized and determining these rates follow a specific set of rules.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West
How to Determine the Cost of Flood Insurance in Beach Haven West
In order to determine the cost of flood insurance in Beach Haven West, one needs an elevation certificate. An elevation certificate, which can be obtained from an engineer, is a document that outlines the specific criteria used to evaluate the risk level of a particular home. This criteria is factored into a predetermined set of rules which translates to flood insurance premium. Specifically, a flood elevation certificate will tell insurance company:
- The first for elevation
- The flood zones in which a home is located
- The lowest level of mechanicals, for example a furnace or a water heater
The methods of construction and their level of compliance to the guidelines established by the national flood insurance program
In order to obtain an elevation certificate, a homeowner, or a buyer, or any other interested parties may contact a qualified engineer who will conduct field work at the property and a assemble the elevation certificate. Once an elevation certificate has been obtained, and a reputable insurance company can give you a quote. The cost of insurance should be fairly universal, regardless of which agency you work with, as the race establishing flood insurance are set by the federal government.
Flood Insurance in the Beach Haven West Real Estate Market
Flood insurance has a major impact on the Beach Haven West real estate market. Buyers are very aware, as they should be, of the cost of flood insurance both in short-term and the long-term. Additionally, buyers are aware of the potential risk for future storms flooding which is created this scenario favoring new and elevated homes. Understanding how to determine the cost of flood insurance in Beach Haven West can go a long way to identifying a good or bad deal in the Beach Haven West real estate market. For more information about home sales in Beach Haven West, Hurricane Sandy, or flood insurance, contact the Beach Haven West Real Estate Group and we respond right away.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West