LOMA
Helping our clients save $ is always fulfilling, but assisting a YMCA in saving $18,000 per year on insurance premiums was especially satisfying!
After heading up to Connecticut & completing an on-site Flood Expert Survey, our engineering team obtained a Letter of Map Amendment from FEMA, removing flood insurance mandates for this nonprofit YMCA. That's $18,000 back to their bottom line and back into programs + initiatives to support their community!
On a rushed timeline due to an upcoming sale, NFE's flood experts helped the nation's largest multi-family property owner save ≈$22K in annual flood insurance premiums while also adding $365K in property value for a 29-building property in Coral Springs, FL. NFE’s field work and engineering review maximized cost savings and helped the current and future owners avoid costly premium hikes on the horizon.
A Condo HOA's premium was set to increase from $17,000/year to potentially $90,000+; our team qualified a scenario that resulted in a premium of only $7,000/year.
A multifamily property in Indianapolis clipped by the flood zone sought ways to reduce flood insurance premiums. Their insurance broker contacted NFE to explore solutions. NFE conducted a Flood Expert Survey and secured a LOMA to reclassify the property into an X Zone, removing the flood insurance mandate, resulting in annual premium savings and an $84K property value increase. The insurance broker's collaboration & NFE's proactive approach achieved financial savings & added property value for the Client.