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Mandate to obtain elevation certificates for flood insurance
Original post made
on Sep 27, 2013
There is a new Biggert Waters Flood Insurance Reform Act 2012 that requires everyone in the flood zone to produce elevation certificates in order to have flood insurance. If you don't provide the certificate, the insurance rates will be increased at 25% a year every year until you provide it. The cost of elevation certificate is between $1,000 and $1,500. Not everyone can easily afford this unplanned expense. Anyone dealt with it? Thoughts? Suggestions?