An elevation certificate is a document that certifies the elevation of a building concerning a base flood elevation. It determines the proper flood insurance premium rate for a building. An elevation certificate is an essential document for any building located in a floodplain.

The certificate provides information on the building’s elevation relative to the base flood elevation, usually prepared by licensed surveyors or engineers. But why should property owners have it? Here are some ideas.

1. Determines Flood Risks

Elevation certificates help to identify a building’s flood risks. There are some areas in the country more prone to flooding than others. The certificate contains critical information that helps to determine the proper flood insurance premium rate for the building.

The certificate includes the building’s elevation above the base flood elevation (BFE), as well as the location of the structure concerning the nearest body of water. The information calculates the building’s flood zone designation, determining the amount of flood insurance required.

2. Serves as a Reference for Future Improvements

Elevation certificates are a reference for future improvements. If the building is in a flood zone, the owner can use the certificate to see if the facility meets the minimum elevation requirements. As a result, property owners can check if they should continue with the improvements or not.

If the building meets the requirements, the owner can use the certificate to get a Letter of Map Amendment (LOMA) to show the building is not in a flood zone. The LOMA amends the previously mapped location as a flood-safe area.

3. Reduces Insurance Rates

The owner must purchase flood insurance if the building is in a flood zone. The flood insurance premium is based on the flood zone and the building’s elevation. The owner can use the certificate to reduce the insurance premium if the building is above the Base Flood Elevation (BFE).

The owner can submit the certificate to the insurance company to reduce the insurance rate. The owner can also submit the certificate to the National Flood Insurance Program (NFIP) to get a Letter of Map Revision Based on Fill (LOMR-F). The LOMR-F is a letter revises the flood zone and removes the building from the flood zone.

4. Helps People Prepare for Floods

People in the area can use the certificate to prepare for floods, as the certificate will show the base flood elevation. They can use the base flood elevation to know how deep the flood water will be. The certificate can also serve as a guide or warning against floods.

5. Reveals Flooding Risks

An elevation certificate is an important document that provides information about the flooding risks in an area. Insurance companies use it to determine the premium rates for flood insurance and lenders to determine the eligibility of a property for a federally backed loan.

If you are considering purchasing a property in an area prone to flooding, it is essential to obtain an elevation certificate before making any decisions. The document will help you to understand the risks involved and to make an informed decision before purchasing the property.

Conclusion

An elevation certificate is an important document that contains critical information about a property. It determines flood insurance premiums and the eligibility of a property for a federally backed loan. Therefore, if you are considering purchasing a property in an area prone to flooding, it is essential to obtain an elevation certificate before making any decisions.

Will’s Service Group is a professional surveying company in Florida. We offer surveying services, helping clients secure needed documents, like elevation certificates. We allow expertise and diversity to take over for us to meet challenging client deadlines. Learn more about what we can offer by contacting us through our website today