Flood insurance elevation survey (mortgage, house, construction)

[diman242424]

Hello all,
I have flood insurance question related to an elevation survey...

I have just purchased a house in the Cape and have ordered an elevation survey.
The house is in 'AE' zone with a base elevation of 7.
The elevation survey came back showing the house is at an actual elevation of 6.3'.
The lowest annual premium I am getting is $1,280 due to the house being below the base flood elevation.

Question: since the house was build in early 80's is there some process I can follow to have it grandfathered into the elevation zone at that point of time? Or am I pretty much out of luck with this high annual premium?

All the replies are highly appreciated.

Thanks.

[hiknapster]

Originally Posted by diman242424

Hello all,
I have flood insurance question related to an elevation survey...

I have just purchased a house in the Cape and have ordered an elevation survey.
The house is in 'AE' zone with a base elevation of 7.
The elevation survey came back showing the house is at an actual elevation of 6.3'.
The lowest annual premium I am getting is $1,280 due to the house being below the base flood elevation.

Question: since the house was build in early 80's is there some process I can follow to have it grandfathered into the elevation zone at that point of time? Or am I pretty much out of luck with this high annual premium?

All the replies are highly appreciated.

Thanks.

http://www.floodsmart.gov/floodsmart...dfathering.jsp

Flood insurance is a national program but your agent should be explaining this to you. If they can't, find another agent.

2.You can use the grandfather rule if you have proof that your home was built in compliance with the flood map that was in effect at the time of construction-your insurance agent can help produce the necessary documentation.

[Harbor Hopper]

Insurance rates are based on current elevation certs, not a 30 yr old elevation. One little item that should've been checked before signing the papers. Flood rates suck.

If you paid cash, then you don't have to have the insurance unless you want it. If you need it for the mortgage company, then work with the insurance co. to get the insured amounts lowered to achieve a lower rate. I have mine at the minimums.

[diman242424]

Thanks for the link.
My insurance agents claims the house does not qualify for the grandfathering...
Will try others to confirm his claim