All,
Not all policies. The PDF
attached is the best info, I also have the link to FEMA site with more
info.
Thanks to The Biggert-Waters
Flood Insurance Reform Act of 2012
Eliminates subsidized premium
rates* and mandates a building’s full-risk premium rate be applied to the
following NFIP policies;
-new policies written with an
effective date on or after July 6, 2012
-policies written as new
business, or existing policies assigned to a new owner as a result of a
property purchase on or after July 6, 2012
-policies that have lapsed and
been reinstated on or after October 4, 2012
Tentative rate procedure
provides a mechanism to keep continuous coverage or obtain coverage during the
application or renewal application process while an elevation certificate is
being procured.
*Subsidized premium rates are
discounted rated that have been traditionally available for structures built
before a community first adopted FEMA Flood Maps and guidelines. The subsidized
rates are determined with limited underwriting information and typically
do not reflect the full risk of flood loss.
Unnumbered V and D zones do not
require and elevation certificate
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