Can Flood Insurance Premiums be reduced?
Yes, it is not only possible, but highly probable that a lower premium may be secured. Most insurance companies compute the rate for flood insurance based on the worst case scenario; that is, the highest possible rate. However, if the house is elevated above the level at which the government has determined that flooding is probable, the insurance company can use specific elevation information to compute a lower rate, based on a sliding scale. The specific information necessary for rate determination is provided on an Elevation Certificate.
