In order for FRS to assists homeowners in reducing or eliminating their required flood insurance.

The Process:                                                                                                              
1.      Generate and forward the documents which allow us to work on the clients behalf with all the necessary agencies.

2.      Secure an EC * (Elevation Certificate).

3.      Upon review of the EC, we begin working with your Mtg. Co. and Ins. Co. in order to place accuracy.

4.      Move to Phase II if requirements are met for complete elimination (LOMA) Letter Of Map Ammendment

* The securing of an Elevation Certificate in order to discover and validate the findings which will be used as evidence in the submission of documents to FEMA/NFIP to reduce or eliminate the required flood insurance. An Elevation Certificate is required because the “burden of proof” is on the property owner to submit adequate supporting data. The Federal government, without sufficient evidence that change is appropriate, would have no justification for changing a flood hazard determination. Therefore, the licensed surveyor must follow engineering practices, which meet professional standards. The cost for an elevation survey varies dramatically, however, it can be minimized by our recommendation as a direct result of our volume and repeat business. 
                                                                                                                                 
Phase II

If the discoveries during the course of Phase I reveal that the property owner or purchaser is eligible for complete elimination of the required flood insurance through the Federal Government, Phase II is implemented. 

To Proceed:                                                                                                                
1. Obtain the required forms to work with your lender, land surveyor, engineer, insurance company, FEMA and NFIP.

2. Complete and submit the required forms to the Federal Government.

3. Submit the forms to the required agencies.

4. Track the forms to expedite and complete the process.

With our streamlined process, we have found that the Federal Government can take up to 16 weeks to approve a request for a LOMA. 

·        A LOMA is the official document indicating the structure no longer resides in a SFHA (Special Flood Hazard Area), therefore, lifting the requirement to carry a flood policy.

·        A LOMA is issued in the address of the structure and stays with the structure, even upon selling. Making this a selling advantage as opposed to the selling disadvantage with the stigma associated with required flood insurance.

·        A LOMA entitles you to a refund of the current years’ premium. It is not a prorated refund.

·        A LOMA allows for you to get a PRP (Preferred Risk Policy) with the NFIP (National Flood Insurance Program) for a similar coverage but a significantly lower rate. This is an optional policy where the policy you may have is Mandatory. This would also carry over to any additional owners. 

                                                                                                   
NOTE: Mitigating your requirement to purchase flood insurance does not mitigate your option to purchase flood insurance. Structures that receive a complete elimination by virtue of a LOMA have undergone the Federal Governement's scrutiny. This is because a LOMA is FEMA's way of officially recognizing your structure is no longer considered to be in the SFHA, and you are now at low to moderate risk for flooding. In fact, the NFIP provides a low cost, preferred risk policy for those borrowers or property owners who have reduced their risk assessment.