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How to lower your Flood Insurance costs at the Jersey Shore -

    Even if your home or business is near the Jersey Shore, the Bays, rivers or the ocean, there are still ways to lower the cost of your Flood Insurance. 

First off, look at your home or building, it may have been built originally outside of the typical compliance that can help lower your costs.

So concerning the aftermath of Hurricane Sandy, even if you didn’t suffer any losses, consider making additions or raising your home or building.

By complying or exceeding the base elevation rules your total costs can drop. Think about going beyond them.

This consideration could have lasting effects and help maybe even increasing the value of your home, building or business vs. another one that hasn’t complied with the rules.  
Look at your flood vents, remove sub grade crawlspaces, elevate your home, locate machinery or equipment and air conditioning above the base elevation levels.

Another possible reason for higher costs could be that your equipment, Air conditioning, heating etc, was below grade. This will have direct costs on your coverage.

Addressing any one of these issues can significantly lower your cost.

Information derived from the FEMA Website:

    "The walls of your building or home should be designed with openings to relieve the pressure of standing water that occurs after a flood.

These vents should be there to relieve the pressure of standing or slow-moving water against them (called hydrostatic loads)

If Not , the lack of openings can cause the walls to fail or be damaged during a flood. The walls that are “load-bearing” walls, meaning, they support an el­evated building, could fail and result in damage to, or collapse of, the building.

National Flood Insurance Program regulations require that enclosure walls contain openings (VENTS) that will allow for the automatic entry and exit of floodwater.

These openings allow floodwaters to reach equal levels on both sides of the walls, thereby lessening the potential for damage caused by a difference in hydrostatic loads on opposite sides of the walls
."


    Thus flood vents can actual help you save money vs a property without flood vents. And If your property was already elevated, and your machinery is still below grade that problem will also influence your final cost.

So if you raise the equipment, Heating/AC etc. you should expect to see your costs drop. Consider using your attic or roof to store these utilities.

Again there are lots of little things that you can do to lower your costs, and that’s why a Trusted Choice Insurance Agent is your best value in helping lower your costs.

For more information about these issues see the FEMA Web site -
www.fema.gov
 
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This web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice. You may wish to consult a competent attorney, tax advisor, accountant or your own financial advisor. EMC Insurance Agency & Financial Services LLC dba I & E Insurance Agency & Financial Services is an Independent Insurance Agency, a Member of the Trusted Choice , Independent Agents of America and member of the ANE Network of Independent Insurance Agents, contact your own advisors before making any decision.

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