Are You Paying For Flood Insurance You Don't Need?
FEMA (Federal Emergency Management Agency) publishes Flood Insurance Rate Maps as part of the National Flood Insurance Program (NFIP). One of the areas shown on the Map is a Special Flood Hazard Area (SFHA). The SFHA shows areas that have a 1-percent or greater chance of flooding in any given year.
Although FEMA tries to use the most accurate flood hazard information available, there are many areas in Lane County that have been mismapped for various reasons. FEMA recognizes that there are errors and has established procedures for correcting these.
The process used to correct mapping errors is called a LOMA (Letter Of Map Amendment). In this process, certain mapping and surveying information is submitted to FEMA with a request (or application). FEMA then issues a document that officially removes the property and/or structure from the Special Flood Hazard Area (SFHA).
The data for the LOMA is obtained by a Licensed Land Surveyor or Registered Professional Engineer. Upon receiving a complete application forms package, FEMA normally completes its review and issues its determination with six weeks.
The greatest advantage for the property owner is that once the property is removed from the SFHA, flood insurance is no longer required possibly saving the property owner hundreds to thousands of dollars a year.
Goebel Engineering & Surveying is experienced in working with FEMA to obtain Letters of Map Amendment.
Contact us to see if a LOMA can save you money.
310 Garfield Street
Eugene OR 97402-7607