Case Study

Industrial

Flooring Showroom Saves Nearly $9K in Premiums

Fort Myers, FL

Image of Industrial property for Flooring Showroom Saves Nearly $9K in Premiums

$9,000 in Premium Savings

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: Nearly $9K in flood insurance savings, adding $140K property value

NFE Solution: FES; LOMA

After completing other successful projects in the area, NFE cold-called a Flooring Company in Fort Myers, FL, to explain the review process and the potential cost-savings that may be available for their property. It is important to note that the project outreach began AFTER category-4 Hurricane Ian impacted the Fort Myers area. Luckily, this property did not experience ANY flood damage from the catastrophic storm.

NFE expedited the qualification process and submitted the LOMA to FEMA on behalf of the Flooring Company. Remarkably, FEMA approved the LOMA in just 31 days, underscoring NFE's commitment to efficiency. The collaboration yielded substantial benefits for the Client:

  1. Cost Savings: By eliminating mandates, the Client achieved $9,000 in cost savings.

  2. Property Value Enhancement: The successful LOMA approval immediately impacted the property's value. Considering a conservative 6% capitalization rate, the property's value increased by over $140,000.

This significant boost in value highlighted the effectiveness of NFE's solutions and ability to create tangible value for their clients.

NFE's field work and engineering expertise were instrumental in delivering exceptional results for the Client. Our niche knowledge base and meticulous attention to detail ensured a seamless review process. By providing effective cost-saving solutions, NFE showcased its commitment to client success and ability to maximize the financial potential of flood-zone properties.

View Other Case Studies

Image of Multifamily property for 19 of 29 Buildings Removed from SFHA

$365K+ Added in Property Value

19 of 29 Buildings Removed from SFHA - Coral Springs, FL

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.

Image of Residential property for Lender Mandate Lifted for Homeowner in Maine

LOMA Achieved for Homeowner

Lender Mandate Lifted for Homeowner in Maine - Kittery, ME

Discover how NFE helped a single-family homeowner in Kittery, ME, confirm their location outside of the special flood hazard area (SFHA) and remove the lender mandate for flood insurance on their home via a Letter of Map Amendment (LOMA).

Image of Multifamily property for Flood Mandates Lifted for a Multifamily Property in Indianapolis

$84,000 in Added Property Value

Flood Mandates Lifted for a Multifamily Property in Indianapolis - Indianapolis, IN

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.