mitigation michael vernon hampton roads director of ...flood mitigation hampton roads . title:...
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FLOOD MITIGATION Hampton Roads
MICHAEL VERNON Director of Business Development
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
• Changing weather patterns • Bigger, stronger storms • Rising sea levels
• Long term erosion • Poor building decisions
• • • • • •
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
FLOODMAP Elevation certificate Base flood elevation Pre-firm Post-firm V sector AE sector
FEMA's interpretation of flood risk to downtown Norfolk and Ghent neighborhood. Source: City of Norfolk Map Gallery, Flood Insurance Rate Map
24 NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
The Department of Homeland Security
FEMA
NFIP
NFIP
BILLION in the Hole!
$
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
The Price of INSURANCE FEMA’s long term financial solution.
RAISING PREMIUMS
LOWER EXPOSURE
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
FINANCIAL INCENTIVES The government in many instances offers financial incentives when individuals do something that is in the best interest of the whole such as: • Retirement savings (deferred taxation) • Giving to charities (tax deduction) • Borrowing money for a primary home (interest deduction) • Mitigate your home to reduce the risk of flood damage. (reduced flood insurance premiums)
in the Form of Lower Flood Insurance Premiums
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
Real Life Results Before Cost of Insurance
Cost of Project A2er cost of Insurance
$3,900 $15,000 $332
$4,700 $5,200 $700
$3,700 $5,200 $650
$1,800 $2,300 $350
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
• Homeowner quoted $2700 per year for flood insurance doubling her previous rate. • The solution is to modify her home according to FEMA standards. She raised her hot water heater and her HVAC. She also installed FEMA certified engineered flood vents. The total cost was $3,200 • Flood insurance was reduced to $733 per year.
CASE STUDY from The Virginian Pilot
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
CASE STUDY • Agent loses two sales due to flood premiums of $3,900 • FLOOD MITIGATION HR determines home can be made 100% compliant • New quote as if house is mitigated brings premiums to $332 • Mortgage Banking Underwriter states that scope of work qualifies for home improvement loan • Estimated cost of project $15,000
• Relocate electrical panel and hot water heater • Remove and dispose of oil burner and oil tank • Create drainage in basement floor • Fill basement with sand to crawl space height • Install Certified Engineered flood vents through our crawl space • Process all documents
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
CASE STUDY/ SCOPE OF WORK
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NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
CASE STUDY
Home has new hot water heater and electrical panel Home is much more resistant to flooding due to mitigation Market value of home is reestablished Insurance premiums are low and will only slowly increase Home moves in a normal time frame Real estate market and community remain healthy
• The seller • The buyer • The real estate agent • The insurance agent
• The mortgage banker • Flood Mitigation • The community • The country
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
CASE STUDY AND THE WINNERS ARE?
SOLUTIONS
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
• Elevation certificates • Free estimates for vents • Assessments for projects with return credit • Design and consultation • Flood and Storm related products • Construction management for mitigation and non-mitigation
projects • Comprehensive document processing • Website and sales support
FLOOD MITIGATION Offers Flexible Hampton Roads
NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW
• One-piece vent plate with easy to insert vermin screen and fixed louver. • Made of durable PVC/ABS plastic (no rust or rot) with a UV retardant treatment. • Can be installed in Crawlspaces and Doors
FEMA APPROVED Flood Vents Raise the House
MICHAEL VERNON 1-844-vents4U (1-844-836-8748)
757-636-6455 [email protected]
FLOOD MITIGATION Hampton Roads