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How does building elevation effect flood insurance?

April 26, 2017building ELEVATION flood Insurance

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How does building elevation effect flood insurance?

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A. Flood insurance for a house built two or more feet above the base flood elevation will cost about half as much as for a house built to the base flood elevation. Flood insurance for a house built just one foot below the base flood elevation will cost about four times more than for a house built to the base flood elevation. This additional cost could mean tens of thousands of dollars over the life of a 30-year mortgage. Q. Where can I get more information? A. The New York State Department of Environmental Conservation (DEC) is the state’s National Flood Insurance Program coordinating agency. Local officials, developers, and the public may contact the DEC for technical assistance and guidance in all matters associated with the National Flood Insurance Program.