What is an Elevation Certificate?
An elevation certificate, or sometimes referred to as a flood elevation certificate, is a document that contains important information on the flood risk of a property for those properties that reside in flood hazard areas. It contains information such as elevation, location on the flood map, building type, and other information that helps insurance companies determine the risk of flood and assess the appropriate flood insurance rates for a property. This information is also used by the National Flood Insurance Program (NFIP).
The elevation certificate is a certified legal document that is prepared, signed, and sealed by a state licensed land surveyor who is licensed in the state for which the survey was performed. The document itself contains survey data on the elevation differences between a property and the base flood elevation in the area.
Advantages of Elevation Certificates for Property Owners
If you happen to reside in a flood hazard area and require flood insurance, getting a flood elevation certificate may well save you money on your flood insurance premiums. Without the proper data, insurance companies cannot accurately assess the risk of flood and may charge premiums that assume more risk. This means property owners may pay too much for their flood insurance. With an elevation certificate, insurance companies can properly assess the risk and charge the appropriate premiums to the property owners. It is a good idea to consult your insurance agent to see if a flood elevation certificate may help lower your flood insurance rates.
Obtaining an Elevation Certificate
An elevation certificate can be obtained from a land surveyor in your area. Depending on the project one can generally be obtained within 3 to 5 business days. Contact your local land surveyor to set up an appointment to have your survey completed and get more specifics on the process in your area.
Other Uses of Elevation Certificates
In addition to aiding insurance companies, elevation certificates may be used to assist property owners in removing buildings and structures from flood hazard areas. Flood elevation certificates may also be used in the development of areas that may reside in floodplains to ensure that building structures comply with regulations set forth by the Federal Emergency Management Agency (FEMA).