(January 5, 2004 - West Palm Beach, FL) -- As consumers throughout the country await the final tally on 2003 holiday expenditures, Flood Zone Correction, Inc. has some good news for the money blues. Over 90% of homeowners forced to buy flood insurance shouldn’t be. That’s a savings of $300 to $500 every year, $12,000 to $15,000 over the course of a 30-year mortgage!
Before those eagerly anticipated bills arrive, Flood Zone Correction, Inc. suggests a flood risk analysis. This comprehensive examination will provide consumers whose homes or buildings are within Federal Emergency Management Agency (FEMA) -designated Special Flood Hazard Areas (SFHA) with either an understanding of the need for their lender’s flood insurance requirement or an indication that the flood insurance requirements should not exist.
In 2002, the latest year for which figures are available, American consumers purchased over 4.3 million flood insurance policies through the National Flood Insurance Program (NFIP) at a cost of $1.7 billion. Insurance requirements imposed by mortgage companies are the basis for the vast majority of these policies and premiums. For the 24-year period 1978 to 12/31/02, claim payments by the program total approximately $11.6 billion. The difference between the amount that goes into the NFIP and the amount paid in claims should prompt every residential and commercial building owner to re-evaluate the price paid for protection.
Flood Zone Correction, Inc. is the leading advocate for consumers and commercial building owners throughout the country, promoting fairness in the evaluation of flood risk and imposition of insurance requirements. According to Dan Freudenthal, president, the company’s “proactive risk management service has identified and corrected inaccurate flood zone classifications on 90% of the homes and buildings evaluated, saving clients millions of dollars on flood insurance and adding tens of millions of dollars to property values.”
Flood Zone Correction, Inc. provides its flood risk analysis service at absolutely no cost and, if warranted, works to remove homes or commercial buildings from the SFHA to eliminate any unreasonable flood insurance requirements. For more information, call 1-877- FLOOD ZONE or visit www.floodzonecorrection.com.
Flood Zone Correction, Inc. headquartered in West Palm Beach, FL, is the first and only company in the country that specializes in flood zone correction, a comprehensive flood risk analysis to identify and correct inaccurate flood zone determinations. Since 2001, Flood Zone Correction, Inc.’s no risk, contingency-fee service has successfully reclassified over 90 percent of the residential and commercial properties it has evaluated to save clients millions of dollars and add tens of millions of dollars to property values. Flood Zone Correction, Inc. clients own and/or operate well over 1.5 million multifamily units and over one thousand shopping malls, retail plazas, office buildings and industrial properties, as well as single family homes, townhouses and condominiums.
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