Is your property or structure inadvertently mapped in a FEMA flood plain, requiring mandatory flood insurance?
CFS can help.
Whether you are a commercial property owner or homeowner, we can save you thousands of dollars in premiums and increase the value of your property. The cost of hiring CFS will be more than covered in your savings.
With decades of experience working for and with FEMA, we have helped tens of thousands of property owners remove the mandatory flood insurance requirements.
CFS Will Handle the Entire Letter of Map Amendment (LOMA) Process For You.
● CFS will conduct an individualized consultation to discuss your property and
explain our process.
● CFS will hire a surveyor.
● CFS will acquire all required documentation from the local community and obtain
any required community approvals.
● CFS will plot the property on the FEMA Flood Insurance Rate Map (FIRM).
● CFS will research any nearby applications, current FEMA re-studies underway,
and any recent updates to the FIRM.
● CFS will complete and submit the application on your behalf.
● CFS will communicate, as needed, with FEMA regarding any questions or
additional data requirements, and continually monitor the status of your case.
● CFS will provide you with FEMA’s final determination, and all documentation that
was submitted on your behalf.
● You only pay if we are successful (if FEMA denies the request, minimal
administrative fees will be required).
● Our fees are dependent upon the property type, the size/type of structure, the complexity of the flood map/flood zone, etc.
Sample Case Study
$5M condominium building with a yearly $25K flood insurance premium
If successful and CFS gets your property out of the flood plain, your insurance company will refund one year’s premium which will more than cover our fees.
Going forward, your $25K yearly premium will be eliminated.
When you sell the property, it is now worth a percentage more as the flood insurance requirement no longer exists.
FEMA’s LOMA determination is property specific (not owner specific), therefore it is transferable to the new owner.
In this example, here are the savings:
● The premium refund from your insurance company will cover our fees.
● If you sell the property in 10 years, you will have saved $250,000 in premiums.
● Let’s assume the $5M condominium is now worth $5.25M without the mandatory
flood insurance requirement, you made $250,000 more when you sell the
property.
● In this example, your investment with CFS returned $500,000.
● You only pay if we are successful.
Let CFS handle the ENTIRE complicated bureaucratic process of removing your
property/structure from the flood plain.
Every property is different, so please give us a call to discuss your options. You only
pay if we are successful.
Contact
bdavis@chesapeakefloodservices.com571.232.5450