Do elevation certificates reduce flood insurance premiums?
Very often, flood insurance premiums are reduced through the use of elevation certificates. In the absence of the data and information provided on elevation certificates, flood insurance companies assume the worst case scenario and charge the highest rates. Many property owners elect to purchase elevation certificates for pre-FIRM buildings in the high-risk flood zones to determine if the flood insurance premium rate would be lower if the buildings were rated according to post-FIRM rules. The property owner maintains the right to choose the lowest premium after premiums are calculated pre-FIRM and post-FIRM, so elevation certificates do not cause premiums to increase in these situations.
