Attention Outer Banks Landlords! Your Flood Insurance premiums may be able to be lowered!
If you have not recently had an Elevation Certificate done for your Outer Banks rental home, you may want to consider doing so! Recently we had a client whose flood insurance renewal policy from National Flood was going to be $1778 per year. We contacted a local surveyor on their behalf and had a new Elevation Certificate issued and once we provided this to their local insurance Agent the premium was reduced to $831/year!!! This is more than half the original cost and our best guest is attributed to the
changing flood maps and also because the area in which this home is located (Kitty Hawk) has had not only beach nourishment to prevent overwash but also 7 outfall drains installed throughout the town to mitigate any flooding event such as excessive rain. Kitty Hawk also plans to continue the nourishment project which will replenish in 2021.
Here’s some information from Dare county regarding the Preliminary Flood Maps in Dare County:
New Video Available Discussing Preliminary Flood Maps in Dare County At the July Community Rating System meeting, local insurance and finance stakeholders were invited to discuss the preliminary flood maps and what the changes mean for local property owners.
Post Date: 07/30/2019 10:42 AM
Dare County, in partnership with Current TV, has released a video of a recent Outer Banks Community Rating System (CRS) Users Group Meeting about the preliminary flood maps released by FEMA that are expected to be adopted in 2020. At the July 2019 meeting, local insurance and finance stakeholders were invited to discuss the preliminary flood maps and what the changes mean for local property owners.
The video provides property owners with critical information about changes in the preliminary flood maps and what they should know before making changes to their flood insurance policies when the new maps are adopted. On the preliminary flood maps, a number of properties in Dare County are being reclassified into shaded x zone and x zones. Although flood insurance is not required in shaded x zones and x zone properties, some of these properties being reclassified have historically and repeatedly flooded. In addition, the newly revised flood maps may not accurately reflect sound side flooding hazards or extreme rainfall.
Outer Banks CRS Users Group Meeting – A Conversation with Insurance and Finance Stakeholders is available for streaming on Dare County’s YouTube Channel. The video will also broadcast on Current TV Government Channel 191 for local Spectrum TV customers. Current TV’s programming schedule, this video and additional Dare County programming is available for viewing on-demand at CurrentTV.org.
Current TV is a collaboration between Dare County, local municipalities and educational entities. Current TV provides a diverse range of visually dynamic government and education programming. By highlighting community initiatives, government services, and local sciences, Current TV expands its viewers’ knowledge of the community’s infrastructure and services. All programming is accessible on Current TV’s streaming channels, on-demand video website, and Channels 191 and 198 for local Spectrum TV customers.