A Way To Avoid Flood Insurance Increase

FEMA map changes are forcing expensive flood insurance on many homeowners. For some there may be a way out, but it can come down to a few inches.

Ask Lindsey Schubert a homeowner along a branch of the Papio Creek. Lindsey pays three hundred eighty dollars a year for flood insurance but a FEMA map change has sent her up a financial creek. Lindsey Schubert says,"The estimates range from 400 dollars to eleven thousand dollars per year."

When FEMA moved a squiggly line Lindsey’s home went from little to high risk. She hoped a survey would prove that wrong.
But the surveyor Lindsey paid 500 dollars for an elevation report tells her a corner of her house is a foot below the flood plain and in the danger zone.

Twelve inches that means hundreds of dollars more in flood insurance. Lindsey Schubert says, " I get that they need to make up money fema has lost the last several years in all the catastrophic flooding. But this isn't the way to do it because you're going to make me foreclose on my house."

Though TD2 engineering couldn't help Lindsey an elevation survey pays off for about a fourth of the homeowners who hire them. Dave Neef, a licensed surveyor says, " if the property is high enough we can get it removed from the special flood hazard area which would waive the requirement for flood insurance on their loan."

A mortgage notice of unexpected flood risk has Lindsey scrambling for insurance quotes. " No one told me this when I was buying my house last July. Mortgage lender, realtor, nobody."

She expects others in her neighborhood with federally insured mortgages are in the same boat but haven't been notified that while the creek is down their flood insurance costs may go way up.

TD2 engineering tells Fact Finders that if the elevations of your property are above the risk level, the company will handle the FEMA paperwork to have it removed from the flood zone.
In many cases the five hundred dollar survey will save thousands in flood insurance premiums.

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