(January 26, 2004 – West Palm Beach, FL) – Flood Zone Correction, Inc. joins federal, state and local agencies and national advocacy organizations in observing the sixth annual National Consumer Protection Week, February 1 – 7, 2004. This year’s theme, “Financial Literacy: Earning a Lifetime of Dividends,” focuses on skills consumers need to make smart decisions in the marketplace and ensure a solid financial future.
During National Consumer Protection Week, agencies, businesses and organizations throughout the country will help consumers of all ages understand how the decisions they make in the marketplace affect their overall fiscal fitness. Some of the organizers of this year’s event include the Federal Trade Commission, the Federal Citizen Information Center, the U.S. Postal Service, the National Consumers League, AARP, the Better Business Bureau, the Consumer Federation of America, and the National Association of Attorneys General.
“Awareness of flood risk impacts the financial health of millions of consumers around the country,” said Dan Freudenthal, President of Flood Zone Correction, Inc. He continued, “Many homeowners and commercial building owners are forced to buy flood insurance. We’ve found that 90% of them should be able to choose a level of coverage that best meets their needs and budgets instead of an amount dictated by their mortgage companies.”
For the latest year that figures are available (2002), the Federal Emergency Management Agency reports consumers purchased more than 4.5 million flood insurance policies at a cost of $1.8 billion. Florida consumers, in particular, pay approximately 30 percent of the nation’s flood insurance premiums. Insurance requirements imposed by mortgage companies are the basis for the vast majority of these policies and premiums.
During National Consumer Protection Week, Flood Zone Correction, Inc. encourages consumers to conduct a flood risk analysis, a comprehensive examination that provides consumers whose homes or buildings are within 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. Removing unwarranted flood insurance requirements saves homeowners $300 to $500 every year, that’s $12,000 to $15,000 over the course of a 30-year mortgage!
Flood Zone Correction, Inc. headquartered in West Palm Beach, FL, is the leading advocate for consumers and commercial building owners throughout the country, promoting fairness in the evaluation of flood risk and the imposition of insurance requirements. Flood Zone Correction, Inc. provides a flood risk analysis service at absolutely no extra cost, and, if warranted, works to remove homes or commercial buildings from the SFHA to eliminate any unreasonable flood insurance requirements. This saves homeowners and businesses millions of dollars on flood insurance and adds tens of millions of dollars to property values. Flood Zone Correction, Inc. clients own and/or operate well over 1.5 million multi-family units and over one thousand shopping malls, retail plazas, office buildings and industrial properties, as well as single family homes, townhouses and condominiums.
For more information, call Flood Zone Correction, Inc. toll-free: 1-877-FLOOD ZONE (1-877-356-6396) or visit the website: www.floodzonecorrection.com.
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