Case Study

Commercial

Over $110,000 Reduction in Flood Insurance Premiums, Resulting to $1.8MM+ in Added Property Value

San Jose, CA

Image of Commercial property for Over $110,000 Reduction in Flood Insurance Premiums, Resulting to $1.8MM+ in Added Property Value

$1.8MM+ in Added Property Value

Solutions Found:

Flood Expert Survey

Insurance Consulting

LOMA

Solution Value: $110,000 Reduction in Flood Insurance Premiums & ≈$1.8MM+ in Added Property Value

NFE Solution: Flood Expert Survey (FES), Letter of Map Amendment (LOMA) & Insurance Consulting

The client, a commercial real estate firm, sought to reduce high flood insurance premiums for their portfolio of hotel and retail properties in California and Hawaii. They recognized the need for innovative solutions and turned to NFE for expertise and guidance.

NFE utilized strategic solutions, including desktop engineering reviews and Flood Expert Surveys (FES), to identify cost-saving opportunities and gather crucial property-specific data. Leveraging this information, NFE's engineering team qualified multiple buildings for Letter of Map Amendments (LOMA) and identified a unique insurance consulting solution, resulting in significant savings on existing policies.

First, NFE conducted a comprehensive desktop engineering review to assess the client's properties. This review allowed NFE to identify potential cost-saving scenarios, laying the groundwork for tailored solutions. After completing desktop reviews, NFE performed FES at various locations to gather vital property-specific data. These surveys provided detailed insights into each property and were crucial in confirming the most effective solutions for reducing insurance premiums.

Based on the FES findings, NFE's engineering team qualified several buildings for LOMAs. These amendments remove properties from high-risk flood zones, resulting in the removal of lender mandates for flood insurance. NFE identified additional avenues for cost savings on existing insurance policies, further optimizing the financial performance of the properties.

NFE's in-depth approach delivered remarkable results for the client, including significant reductions in flood insurance premiums and a substantial increase in property value.

Through comprehensive analysis and expert strategies, NFE achieved an astonishing $110,000 reduction in the client's flood insurance premiums. NFE's solutions also led to a staggering increase in property value, surpassing an est. $1.8 million across three properties, enhancing the client's portfolio's overall value and market competitiveness. This case study highlights NFE's ability to deliver game-changing solutions that maximize the financial performance of flood zone properties.

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