More Flood Myths

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Myth:  You cannot change your flood insurance agent once the policy is issued and sent to a mortgage company.
When you want to change insurance agents, try to do the move at least 30-90 days prior to the renewal date.  Notify the mortgage company of your intentions and make sure they don't pay for the old policy.  Then have the new agent send a copy of the new policy to the mortgage company prior to the expiration date for payment.  If the mortgage is required to maintain flood insurance, they will pay for the existing policy if they have not received evidence of a replacement policy from the new agent.

Myth:  A Flood Elevation is required to be ordered whenever client is buying a new building.
Check with the current owner to see if they have one.  Check with Permit office.  If building is Pre-Firm DON"T let anyone convince you need to order one without doing further checking for an older one.  If the seller doesn’t have a flood elevation certificate, then most likely one would not work for you. 

If you are using an old flood elevation and the building is not in compliance at the time of a loss. The Flood insurer will change the premium on the current renewal to correct the rating issues when they pay the claim. When using an old flood elevation certificate or a new one, the dwelling must be in compliance with current building codes to have the lower flood premium that the elevation certificate indicates.

Myth:  Once the policy is issued, the rates cannot be changed.
If you can prove with proper documentation that the policy was rated incorrectly, it can be corrected by giving proof to your insurance agent or using us to do it for you.  We offer a service that allows us to review your policies to see if the policy was incorrectly and if they are wrong we not only pick up your flood insurance on renewal but we notify your current flood insurer to correct this current year and one prior and to go to FEMA for up to 4 more years of possible refunds!