There’s also confusion about what it means to live in a flood zone and who should get flood insurance. Zone A99- Areas subject to a 1% or greater annual chance of flooding in any given year, but will ultimately be protected by a flood protection system under construction. Flood Insurance should be the easiest, most-straightforward type of insurance, but zones continually change and misinformation circulates like wildfire.
We do not offer or have any affiliation with loan modification, foreclosure prevention, payday loan, or short-term loan services. Neither FHAnewsblog.com nor its advertisers charge a fee or require anything other than a submission of qualifying information for comparison shopping ads. Note that there is a requirement for the condo project to have flood insurance via the HOA that covers not only the interests of the condo project at large, but also the individual owners. As you can see, such properties will require added documentation and work done by a third party. Ask your lender how the expense of this work may affect how much you will need to pay as part of the costs of the FHA mortgage. If your structure is in Zone AE the Elevation Certificate will have information needed to determine a risk-based insurance policy.
This assured the bank that we were committed to ongoing coverage through the life of our loan. However, options exist that will allow property owners to save money while still protecting their property. The Oregon Model Flood Hazard Ordinance was developed in cooperation with FEMA to help communities achieve compliance with the minimum NFIP and state standards for floodplain management. FEMA approved the model ordinance in August of 2019 and it is now available for communities to use.
It started in the 60’s mainly to replace flooding losses in the interior and got expanded to everywhere. The logic may have been to spread the costs better or to make it fair for everyone who got flooded, but adding coastal flooding areas made things financially worse. The number of houses in the program expanded and expanded as most mortgages were made to require flood insurance to protect loan backers.
Unless Congress reforms the program, the debt could climb even more in light of rising sea levels and the likelihood of costlier storms, the group warns. The annual premium for residential NFIP flood insurance averaged $700 in 2019. The NFIP, managed by FEMA, offers federally backed flood insurance sold through more than 60 insurance companies and through an initiative called NFIP Direct. I’m guessing lenders would not be able to manage the risk and would not offer mortgages without that flood insurance requirement. The actual premium costs in areas like the OBX should be many times higher to be financially viable.
If you can prove your property is above the 100 year Base Flood Elevation , then the bank or lender may waive the required flood insurance. To do this, you need a document from the Federal Emergency Management Agency. But don’t wait until you’re picking out curtains on your newly built home. To opt out of flood insurance, you have to move your property from the Flood Zone BEFORE you build.
Get New Property Notifications
If it does not, an insurance agent will be able to write up a policy. A building coverage policy is going to cover the house or dwelling, a garage, permanent fixtures, furnaces, plumbing and electrical. Coverage in the basement will cover the drywall, electrical, furnaces, hot-water heater, light fixtures and help with cleanup.
The NFIP caps dwelling coverage at $250,000 and personal belongings at $100,000, which may not be enough for your particular situation, and the average policyholder pays $700 per year. That average, however, includes homeowners with very little flood risk. Finally, flooding does more than cost you for repairs and replacement. You must also find a place to live while your home is being repaired. You and your family’s lives will be disrupted and there’s a chance your vehicles, livestock, pets and other property fixtures will be damaged or destroyed as well. Your home will be at risk for mold and other complications arising from the flood.
Obtaining the appropriate local and state permits can be a very lengthy and costly process. In addition, be aware that state law prohibits the construction of new homes in the floodway and requires that any construction activity in the floodway will require a permit from the DNR, Division of Water. An application with the Division of Water for a construction in a floodway permit can take 2 to 5 months for the review. If you need to get a loan from a mortgage company to purchase a house, floodplain information can tell you if you will be required to get flood insurance coverage on the house. The data layer “Preliminary Special Flood Hazard Area” (“Preliminary”) is a proposed digital product presented by FEMA for acceptance and approval by the county as an official DFIRM for that particular county. This Preliminary flood hazard information is for outreach, advisory and review purposes only, and is subject to revision.
The data on the FIRM can be detected in a format that supports the digital technologies and helps the institutions for disaster management through “National Flood Hazard Layer” . This database is, however, acting as a subset for the study and utility of insurance in the regions called Flood Insurance Studies . Basically, the databases of NHFL comprises of digital formats of Flood Insurance Rate Maps which are available in the published form from FEMA.
Zone V has a 1% or greater annual chance of a flood event determined using approximate methodologies. Zone V are found in some coastal areas and have an additional storm surge (high-velocity wave action) hazard. This article is written to aid the general public in understanding the mandatory purchase requirement and FEMA’s flood zone designations. It describes the FEMA zones and the mandatory purchase requirement at a high level and provides some details for those who have interest in nuances. Even if you don’t have to worry about big floods, it takes only a few inches of water to cause costly damage to a home. Just 3 inches of floodwater in your home can mean having to replace drywall, baseboards, carpets and furniture.
Flood Insurance Guide: How To Get Flood Insurance
All decisions regarding any insurance products, including approval for coverage, premium, commissions and fees, will be made solely by the insurer underwriting the insurance under the insurer’s then-current criteria. All insurance products are governed by the terms, conditions, limitations and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of the issuing insurance carrier. If your home does not have flood openings, adding them could lower your premium.
Keep in mind that most of Houston was in a Low risk X flood zone. Mortgage companies or lenders will not typically require flood insurance in low risk zones. If you are lucky enough to afford a home in the V zone you probably are not worried too much about the cost of the insurance. There are many horror stories when it comes to the cost of flood insurance in Florida. We are just talking about flood insurance here and not general homeowners insurance.
You must live in an NFIP-participating community to purchase NFIP flood insurance. Visit floodsmart.gov to learn more about NFIP flood insurance — there are more than 22,000 communities involved in the NFIP. Galveston’s participation in the National Flood Insurance Program allows for the purchase of floodinsurance at a subsidized rate to anyone in the city, regardless of location or loss history. The city is also a part of the voluntary FEMA program known as the Community Rating System .
VA lenders typically require you to purchase a separate flood insurance policy before closing on your home loan. Flood Map Service Center, a tool that displays information such as flood zones, floodways, and your home’s risk level. Type in a property’s address, and a map showing its flood zone will appear. As you’re analyzing the map, it’s important to remember that just part of the home’s lot could be in the flood zone. FEMA’s flood zone classifications range from low-risk to high-risk areas. Zones B, X, and C are low-risk flood zones, while A or V are high-risk flood zones.
This is our own personal preference after seeing the cost of the flood policies rise over the past 20+ years. Flood zones have continued to grow into previously unlisted areas. The zones continue to expand and will only cause more homeowners to be required to purchase flood coverage. If you have no liens against your home then you do not have to carry any additional flood coverage, but if your residence does flood your homeowner policy will NOT cover the damages. If you want to be covered for floods you must purchase a separate flood policy.
The national flood insurance program gives the designation ae to areas that have a 1 percent probability of flooding in an year, explains insure.com. The next thing that has a major impact on flood insurances rates in flood zone AE is the foundation type. Above grade is a crawlspace that sits above ground and subgrade is going to be crawlspace that sits partially below ground. The big difference here is subgrade generally will sit a certain level below the base flood elevation which increase the premium.
Still, if you have comprehensive homeowners’ insurance or renters’ insurance, while your flood insurance policy may not cover certain damage, your other insurance policies might. So maybe the wind damage will be covered by a different policy other than your flood policy. So, a home might be built to low risk flood zones code and a new map moved the home into a higher risk flood zone 15 years after the home was built. For those in higher-risk areas , the cost of coverage depends on your home’s size, construction, location, and your deductible. According to FEMA, the average flood insurance policy costs about $700 per year, but can vary wildly, depending on your home’s elevation. Florida flood insurance is required for about 1.7 million properties at last count.
That’s why we recommend to homebuyers that if the lender requires flood insurance, ask the seller to provide you with an EC or compensate you for the cost of obtaining the EC. If you own property in a flood-prone area, your rates will be higher than in areas not prone to flooding. This can mean you are located near a water source such as a lake or river, or it could mean that you live in an area susceptible to run off or dam failure. Moderate flood hazard areas are Zone B or Zone X, areas between the limits of the base flood and the 0.2-percent-annual-chance (or 500-year) flood. Areas of minimal flood hazard, Zone C or Zone X are areas outside the SFHA and higher than the elevation of the 0.2-percent-annual-chance flood.
City Specific Flood Insurance Requirements And Free Flood Insurance Quotes
The flood zones and evacuation zones are determined by different methods and have different purposes. A home may be located in a non-evacuation zone, yet still be located in a flood zone because of a nearby stream or pond. For all other jurisdictions, please contact the individual municipality.
The role of the Administrative Officer is to do the work of the municipality as identified in the bylaw under statute. This includes helping individuals understand the Flood Insurance Rate Map and the municipal regulations, and to support the review of proposed development. Building in a floodway alters that pathway and can increase the flood risk in a community, which is why such activity must be regulated. … Development is not allowed unless “no rise” in flood levels is certified. “No rise” means no increase in flood elevations greater than 0.00 feet.
The website lists other factors that affect the premium, such as the size of your deductible and whether your home has a basement. If located by a pond, creek, river, or other body of water what feeds the water supply? If there is construction up stream it can cause more, or less, water to accumulate. Normally this means more water will flow down the body of water giving it a greater chance of breaching the banks as well as your flood zone changing. Participation in the NFIP by local government ensures that individuals and businesses are able to purchase federally-backed flood insurance. Local governments must adopt and enforce certain requirements to maintain participation in the National Flood Insurance Program .
This program requires periodic notification to Seaside Park property owners of potential flood hazards and the availability of Flood Insurance. As a participant in the National Flood Insurance Program Community Ratings System , the Village takes measures to reduce and ultimately, eliminate the community’s exposure to floods. Presently, Village residents may receive a 10% discount on their flood insurance policy.
The Proof of Loss includes a detailed estimate to replace or repair the damaged structure and contents. In most cases, the adjuster can provide you with a suggested Proof of Loss. Without insurance, disaster relief from floods mostly takes the form of the federal government’s low-interest loans. Purchasing a flood insurance policy is the only way to fully protect yourself from flood-related costs. You’re not required to get flood insurance if you don’t live in a flood zone and have a mortgage. Even if you’re not required to have flood insurance though, you should consider it.
The report comes at the same time the Federal Emergency Management Agency is working to revise premiums for the National Flood Insurance Program. FEMA says the new premiums will be more in line with real-life costs. More information about FEMA zones can be found at or reach out to any of the flood experts at MassiveCert. Replacement cost value insurance covers the cost to replace an item. With replacement cost coverage, you’ll receive enough money to go out and buy a new item that is similar to the one you made a claim on.
To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. Policies effective on or after April 1, 2020 will have an updated percentage for the Reserve Fund Assessment. Expect the Reserve Fund Assessment to increase to 18%, 3% higher than the previous assessment percentage. This assessment on NFIP policies began in 2013 and helps cover NFIP expenses when claims outpace collected premiums. For instance, the damage from just one inch of water can cost a homeowner more than $20,000. It’s entirely possible that you’ll experience a flood even if you are not located in a floodplain.
If you are unsure about whether your property is within a Special Flood Hazard Area, you can look at the Flood Insurance Rate Map for your area. These are the same maps that insurance agents use to determine your flood risk and insurance rates. The BFE is the regulatory requirement for the elevation or floodproofing of structures. The relationship between the BFE and a structure’s elevation determines the flood insurance premium. One problem with this model was a lack of good information about flood risk.
The CBRS is a system of protected coastal areas that includes ocean-front land, the Great Lakes and Other Protected Areas . Coastal barriers serve as important buffers between coastal storms and inland areas, often protecting properties on land from serious flood damage. Also, coastal barriers provide a protective habitat for aquatic plants and animals. The Coastal Barrier Resources Act flood insurance news of 1982 restricted development on the CBRS, in an effort to protect the barrier system and prevent future flood damage. If you live in a CBRS area, you are eligible for federally regulated flood insurance only if your property was built before 1982 and your community participates in the NFIP. As new maps are published your risk may change along with your flood insurance requirements!
It is helpful to have photos and receipts of your items as well. Call your agent or broker immediately if you suffer flood damage. Josh is the co-founder and President of MassiveCert with nearly 20 years of experience as an innovative leader in the flood hazard industry and a special talent for process improvement through geospatial technology. Today, he is passionate about helping homeowners understand flood risk and making flood certification Massively Easy.
- The National Flood Insurance Program was created by Congress in 1968 to protect lives, property and to reduce the financial burden from flood events.
- The certificate describes the risk a property would be at if a major flood were to occur and if the property is above the height of estimated floodwaters.
- Properties in the “X” flood zone are the least expensive to insure because they are lower risk.
- If the structure has a mortgage, the owner must have flood insurance.
- A flood can strike anyone, no matter where they live — and if your home is flooded and you don’t have flood insurance, you will more than likely be left paying for the damage completely out of pocket.
Like homeowners insurance, private flood insurance provides coverage for both your building property and personal property. In contrast, NFIP flood insurance requires you to buy these two coverages separately. The average flood insurance policy obtained through the National Flood Insurance Program when is flood insurance required costs $734 per year. Flood insurance for homes located in an ae flood zone cost substantially less than those in ve flood zones. Kin, Amica, USAA, Encompass are a just a few names that provides best cheap flood insurances. They provide with a good coverage limits for home and possessions.
The low-cost PRPs can be obtained by South Sacramento Residents which costs $365 approximately per anum and includes the structure (up to $250,000) and content (up to $100,000). In order to change the insurance policy to PRP, residents require a FIRM copy by FEMA along with the copy of LOMR. Kin Insurance, born in 2016, gives homeowners a new insurance option. It strives to provide easy-to-understand home insurance policies and service to homeowners everywhere, even in catastrophe-prone coastal areas. You can expect affordable coverage and customized policies from Kin.
The deductibles will apply separately to building property and personal property claims. Additionally, mortgage companies can require that a flood insurance deductible is no more than a certain amount. The website only gives an approximate range of possible coverage costs. You can still get a quote even if you are just looking at the property and don’t have it under contract. In general, expect to pay at least a few hundred dollars per year for flood insurance. When someone takes out a mortgage, the home serves as collateral if the borrower stops making mortgage payments.
Although the NFIP is allowed to accept deductibles up to $10,000, if you have a mortgage on your property, the lender has the right to determine what deductible it will accept. Some lenders, depending on the insured property owner’s assets and other factors, may not be willing to allow high deductibles. Since the NFIP did not formerly collect information that allowed it to distinguish between businesses and non-businesses, it has now begun to do so at renewal. One of the key changes of the 2014 law is that it stopped most pre-FIRM properties from immediately losing all subsidies due to sale of the property or lapse of NFIP coverage. Now, such properties will be subject to a maximum possible yearly premium increase of 18%. The 2014 law still generates increased revenue for the NFIP, but it does it differently.
Look at the replacement value for your house as determined by your homeowners insurance company. This is the full amount for which you need to purchase insurance. The insurance only needs to cover the value of the physical structure, not the land. The homeowner must secure the flood insurance policy before closing on a property and renew it every year to cover the principal balance on the loan. The lender will usually collect flood insurance payments along with the monthly mortgage payment, hold the funds in an escrow account, and pay the entire premium to the insurance company once a year .
If your flood insurance policy costs $1,000 a year and you take 30 years to pay your mortgage, that’s an additional $30,000 long-term cost to own that home. If the website says the property is in a high-risk area, flood insurance will likely be required. The final decision depends on flood insurance rate maps and an official flood zone hazard determination. You should also ask your lender about its flood insurance requirements. If you own a home in a community that participates in the National Flood Insurance Program, you are eligible for flood insurance.
Flood insurance is available for buildings and their contents anywhere in participating communities. Without access to the NFIP, flood insurance from private sources may be unavailable or prohibitively expensive. To participate in the NFIP a community must regulate all new development in high risk Special Flood Hazard Areas to ensure that new development is safe from flood damage. However, there’s a 30-day waiting period from date of purchase before your flood insurance policy goes into effect. This means you can’t buy flood insurance 2 days before a hurricane hits Florida and be covered.
If you live in a high-risk flood zone, you have at least a 1 in 4 chance of flooding during a 30-year mortgage. Elevation Certificates are usually prepared by a land surveyor or engineer hired by the property owner or potential property owner. It determines the relation between the house and the base flood elevation .
These areas are marked by the zone D and indicate the possible risks of the flood that are not yet determined. There is no detailed analysis available on the possible associated hazards and therefore the flood insurance for these areas also correspond to the accompanying uncertainties. Flood mapping is an important tool for combating deleterious effects of flood and to take future preventive measures for management in the times of flood.
Not only will sea levels be rising, but more frequent and more intense storm systems pile on top of that. So if the same strength storm hits an area that was hit years ago, now the flooding is worse because of sea-level rise. But on top of that, the warming climate means that storms are likely to be even stronger, which also means that flooding will be worse. Private flood insurers can offer higher limits, making them preferable for homeowners with more assets to consider. Flood insurance is mandatory for coastal areas designated Zone V. Don’t ask us to find insurance for your motorhome or motorcycle.
New York City, for instance, successfully petitioned FEMA to revise flood maps after a third-party analysis in 2016, saving many city property owners expensive flood insurance rate hikes. Standard Homeowner’s Insurance Policies do not cover losses due to floods. However, Seaside Park is a participant in the National Flood Insurance Program, which makes it possible for Seaside Park Property Owners to obtain federally backed flood insurance. This insurance is available to any owner of insurable property in Seaside Park. Tenants may also insure their personal property against flood loss. The cost of flood insurance will vary depending upon the amount of coverage and the degree of flood hazard.
FEMA has been engaged in a comprehensive review of its National Flood Insurance Program to identify reforms that will enable it to better address flood risks. A part of that review has included working with members of Congress and other stakeholders regarding FEMA’s approach to mapping flood hazards with respect to non-accredited levees. These procedures better characterize actual conditions that a community may encounter when addressing non-accredited levees or levee systems.
These measures take a variety of forms and generally include requirements for zoning, subdivision or building, and special-purpose floodplain ordinances. Since the improvements for the levees are not totally ready, the owners of the property in the area of Natomas Basin would require flood insurance if they have a mortgage which is federally backed. PRP i.e. “Preferred Risk Policy” would be available to most of the property owners due to the status of A-99 of Natomas Basin. Currently, West Sacramento falls under zone X in the Flood Insurance Rate Map. Therefore, there is no mandatory obligation for flood insurance in the area.
Homeowners who live in Zones B, C, X and D are not considered to have a high risk of flooding, which means that they are not required to purchase flood insurance. The most effective way to decrease NFIP premiums significantly is to reduce the risk of flooding by elevating a structure or relocating it to an area of one’s property outside the floodplain. The NFIP provides much lower rates for structures that are above the “base flood elevation” on flood insurance rate maps. Private flood insurance policies are underwritten by private companies and not the federal government. Lenders must accept private policies so long as they meet minimum standards. We provide data and reports to help insurers underwrite policies, and for property owners to better understand flood risk.
In most cases, the applicant will need to hire a Licensed Land Surveyor or Registered Professional Engineer to prepare an Elevation Certificate for the property. Upon receiving a complete application forms package, FEMA will normally complete its review and issue its determination in 4 to 6 weeks. For other small areas, earthen fill may have been placed during construction, thereby elevating a small area within the SFHA to an elevation that is at or above the BFE.
The more likely flooding is in your area, the more your flood insurance is likely to cost. If it is more likely that flood damage will occur, insurance companies charge higher premiums to compensate. To find how much of a risk flooding is in your area, check out FEMA’s flood maps for your region.
These rates are scheduled to go into effect on either April 1, 2021, or January 1, 2022; implementation date varies by flood zone. Be patient with this map and website, as it can sometimes take a little while to load. Once it has finished loading and you can see your address on the map, your flood zone will be displayed in close proximity. The following is a list of contact personnel who have the knowledge, experience and have agreed to discuss flood hazard protection methods with you. It is anticipated that all non-compliant homes will be affected by an increase in insurance premiums. The Town of Narragansett can help you identify whether or not your property is I located within the Special Flood Hazard Area as defined by FEMA.
I’ve seen flood zone ae insurance policies with a cost of over $5,000. This development will allow them to save an average of around $150 a year. Miami Shores adopted Chapter 8.5 Creation of Flood Damage Prevention Ordinance in response to FEMA requirements to adopt a flood damage prevention ordinance. The State of Florida incorporated floodplain management into the 2010 Florida Building Code and included requirements for construction in the special flood hazard area .
Even as advancements in technology have allowed us to live farther away from our water sources, there’s still something therapeutic about living near the stuff that makes up the majority of our bodies and our planet. Flooding is the most costly and repetitive natural disaster affecting Hillsborough County. While residents are typically affected by inland flooding near lakes and in low-lying areas, flooding along rivers and coastal tidal surge are not uncommon. Flooding can occur anytime and anywhere when heavy or steady rain occurs. But in March, he received word from his insurer that his premiums would reach $7,000 to $12,000 a year by 2018, with the increases kicking in next year.
Policies for VE zones could cost you upwards of $30,000 per year. Personal lines insurance includes property and casualty insurance products that protect individuals from losses they couldn’t cover on their own. There are several options for avoiding lender-required flood insurance , though they may not be feasible for everyone, especially those living in high-risk areas. In some neighborhoods or even entire cities, it may be difficult to find a home that is not in a high-risk flood area. In other regions, you can avoid the need to carry flood insurance entirely. Flood insurance will provide money to repair or even rebuild a home if it is damaged or destroyed by flooding.
If the surveyor determines that the existing ground elevation is actually outside the designated flood plain, the owner can request from FEMA a Letter of Map Amendment . The LOMA is a legal description in which FEMA recognizes the new determination.9. If the breakaway walls have vents in them the water pressure will equalize on both sides of the wall causing the design walls to fail and remain attached to the pile. The walls and piles are now acting as one unit, jointly absorbing the wave action and water flow, increasing the risk of permanent damage to the foundation system and possibly causing the structure to collapse. As development occurs impervious surfaces and rain gutters are being installed.
The NFIP has a “Write Your Own Program,” which allows insurance companies to write flood insurance policies in their own name and handle the claims on behalf of the government. These are very specific questions and since I don’t know the exact details of your property, I’m afraid I cannot answer them. I would recommend speaking with your local floodplain administrator about your property to see what you are able to do. Unfortunately, it’s often after people are affected by flooding that they discover that their home or business property insurance does not cover flood damage. Do you really need to buy flood insurance when you purchase a home? The answer will vary depending on the type of loan that you’re using to invest in a property and where you live.
Get a Quote A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency. Once you’re under contract on a home, lenders will typically order a flood certification for the property. At Insurance Resources, we strive to maintain the highest of ethical standards and aspire to grow both personally and professionally so that we are better able to provide our clients with optimal insurance solutions. FEMA is discontinuing the use of the V-zone Risk Rating Factor Form.
The NFIP is administered by the Federal Emergency Management Agency. As a NFIP community, unincorporated Nassau County created a Floodplain Management Ordinance that establishes the county’s agreement to regulate floodplain development according to the Code of Federal Regulations 44. You must also be willing and prepared to take flooding precautions if necessary, and determine that the home for sale is priced right based on its location in a flood zone.
Floodproofing of non-residential buildings may be permitted as an alternative to elevating to or above the Base Flood Elevation. In the City of Atlanta, the SI/SD amount is a cumulative total over any given 10-year period. The value determination includes flood insurance premium only the structure itself, not the value of the land underlying the structure. Property owners may appeal decisions by providing additional information, especially when estimates of costs and market values are used to make determinations.
It may not be worth it to refinance when you add the new cost of flood insurance. The National Flood Insurance Program , managed by FEMA, offers flood insurance to homeowners in communities that participate in the program. The program requires participating communities to “adopt and enforce floodplain management regulations that help mitigate flooding effects.” However, real estate agents and mortgage lenders often don’t tell customers about flood insurance requirements until a property is already in escrow. Homeowners are also unaware that many areas that do not immediately appear to be in danger of flooding are actually rated as high risk by the Federal Emergency Management Agency . If you’ve found yourself in this situation or you don’t want to be caught off guard, this article will help you by demystifying lender-required flood insurance.
In addition, we will a preferred risk flood policy with extended eligibility. This option will give a discount on flood insurance rates for two policy years from the map revision date. After the initial two years, you will be eligible for a low cost standard-rated policy with options like grandfathering, elevation rating, and higher deductibles. It may seem like a big undertaking, but the NFIP calls this action the fastest way to reduce flood insurance costs. In fact, if you live in a high-risk flood zone, you might save hundreds of dollars every year for each foot that your home is elevated above your community’s base floor elevation.
Homes in this area are on the south side of Savannah along the Forest and Vernon Rivers. To protect against wave scouring and frontal velocity, structures must be elevated so that the lowest horizontal structural member is above the designed selective flood insurance base flood elevation . A registered professional engineer or architect must develop, review and certify the structural design, specifications and plans. The premium for the house itself and the premium for the contents coverage.