Case Study

Residential

NH Homeowner Relieved of Rising Flood Insurance Costs

Bedford, NH

Flood Insurance Mandates Removed

Solutions Found:

LOMA

Solutions Value: Flood Insurance Mandates Removed & Property Value Improved

NFE Solution: LOMA

A homeowner in Bedford, NH, had been struggling with rising flood insurance premiums nearing the point of doubling their mortgage payments. Seeking relief from this financial burden, they contacted their insurance agent, who recognized the need for specialized assistance and recommended NFE as a trusted partner.

We began by conducting a complimentary engineering review of the property, which involved a comprehensive assessment of the A-zone property to determine potential eligibility for a Letter of Map Amendment (LOMA) or other cost-saving solutions. Following a thorough review, NFE qualified the property for a LOMA.

Throughout the process, NFE worked closely with the insurance agent and the homeowner, providing valuable guidance and support, handling every step of the FEMA submission process, including FEMA's Requests for Information (RFI), and ensuring smooth application progress.

NFE's efforts yielded excellent results for the homeowner - who obtained a LOMA for their property, successfully removing the lender mandate for flood insurance. The solution provided relief from high insurance costs and improved the property's overall worth and marketability should the owner decide to sell in the future, offering peace of mind and allowing the homeowner to focus on other financial goals. The collaboration between the insurance agent, NFE, and the homeowner exemplifies how strategic and specialized solutions can alleviate financial stress and provide positive outcomes.

View Other Case Studies

Image of Multifamily property for Multifamily Property Avoids Flood Insurance Requirements at Closing

$165K in Added Property Value

Multifamily Property Avoids Flood Insurance Requirements at Closing - Shepherdsville, KY

Learn how a multifamily property in Kentucky saved $10,000+ on flood insurance mandates and increased property value by $165,000. NFE's expertise qualified all buildings for a Letter of Map Amendment (LOMA), helping the client avoid unnecessary and hefty flood insurance requirements while facilitating a smooth closing.

Image of Commercial property for FEMA 50% Improvement Rule Avoided & Property Value Increased by $200K

$200,000 in Added Property Value

FEMA 50% Improvement Rule Avoided & Property Value Increased by $200K - Chattanooga, TN

Discover how a Chattanooga, TN, hotel owner saved $12K per year on flood insurance, added $200K in property value, and avoided FEMA’s 50% improvement rule by working with National Flood Experts (NFE) after being referred to NFE by their insurance agent.

Image of Multifamily property for Luxury Housing Community Reduces Annual Flood Insurance Expense & Improves Property Value

$221K+ in Added Property Value

Luxury Housing Community Reduces Annual Flood Insurance Expense & Improves Property Value - Middletown, NY

In this case study, we will explore how NFE helped a luxury multifamily property in Middletown, NY, in saving on flood expenses and enhancing property value by $221K+. The Client's insurance broker recommended NFE to alleviate the financial burden of increasing flood insurance premiums. Through a comprehensive engineering review and flood expert survey, NFE secured a LOMA for the Client, leading to a win-win situation for all parties.