Houston TX Flood Insurance Requirements Are Changing
Houston TX property owners are you in a flood zone? Every so many years the flood maps are updated. For example, if you bought a home in Houston Texas in 2006 you may not have been in a flood zone, but now in 2011 you just might be in a flood zone according to the FEMA update. Most lenders will require this type of coverage on real estate property. However, you do have those cases where the whole thought just slips right through the cracks. If you do have flood insurance coverage, and you are paying a preferred rate, things may change in the future regarding your real estate property in Houston Texas.
Sometimes during the updating process properties are classified as being in a flood zone. If this happens to you, then you may have to hire a surveyor to survey your Houston Texas property. You may need to obtain an elevation certificate during the process too. An elevation certificate is an important tool used for the National Flood Insurance Program. This certificate provides information regarding the elevation, building type, flood map location and additional information used to determine the correct flood insurance premium rate a homeowner in Houston TX should pay. While the prior information is vital, property owners currently within a flood zone can also make note that the certificate is an important risk management tool too. Whenever a survey is initially done for a home not in a flood zone, an elevation certificate is usually not provided. Elevation certificates are usually provided along with surveys done on properties in flood zones at the time the survey is done. Therefore, if asked to obtain one do not be alarmed by the request because it is considered standard procedure in the Houston TX area and those surrounding.
Real Estate Consultant
Keller Williams Realty
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*Houston TX Flood Insurance Requirements Are Changing*