How are rates determined?
Rates are determined by pre-firm and post-firm dates of the community; usually 1974 is an appropriate year for our area. Houses built after 1974 will require a flood elevation certificate to determine rates. Prior to 1974, base rates are usable and an elevation may be used to lower this rate, if favorable. Elevation certificates cost approximately $250, so please be aware that this is not guaranteed to lower your rate. It’s best to check with other neighbors to compare what they might be paying for similar coverage before ordering a survey. Zones B, C, & X are preferred zones and you may refer to the Preferred Rate Chart to determine appropriate package coverage, which includes building and contents. See Quote Department for a Rate Chart. Please be aware that most new property purchases require an elevation certificate, which is automatically requested by the closing attorney’s office as part of your closing cost. Our office will work with them to get you the best possible flood rates
Related Questions
- I paid local taxes to a non-RITA city. How do I report those tax payments on the RITA Form 37 and do I need to attach a copy of the other city (ies) returns to receive credit?
- I paid local taxes to a non-RITA city. How do I report those tax payments on the RITA Form 37 and do I need to attach a copy of the other city(ies) returns to receive credit?
- How are rates determined?
