(June 14, 2004 – West Palm Beach, FL) – Flood Zone Correction, Inc. the nation’s first flood zone correction company, urges all property owners to know their true flood risk and to ensure that their properties are properly zoned, given the most recent prediction of 14 tropical storm events during the 2004 summer season.
“Many who may be at risk for flood and don’t have flood insurance take a dangerous gamble. On the other hand, many throughout the country have been forced to buy high risk flood insurance when, in fact, their properties should be classified as low flood risk. Either way, a flood risk analysis can properly prepare property owners and save them money,” states Dan Freudenthal, president of Flood Zone Correction, Inc.
A flood risk analysis is a comprehensive examination of homes or buildings within FEMA (Federal Emergency Management Agency)-designated SFHA’s (Special Flood Hazard Areas). The analysis will underscore the need for a lender’s flood insurance requirement or provide an indication that the flood insurance requirements should not exist. As a public service, Flood Zone Correction, Inc. offers residential and commercial property owners this analysis free of charge.
Flood Zone Correction, Inc. finds that many homeowners and commercial property owners are being forced to buy high risk flood insurance when instead, 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. These companies do not evaluate all of the flood risk characteristics before determining whether or not a property is in or out of a flood zone. Removing unwarranted flood insurance requirements saves homeowners $300 to $500 every year. That can add up to $15,000 over the course of a 30-year mortgage.
Additionally, according to Freudenthal, “there is a financial disconnect between those who are truly at risk for flood damage and those who are not. Consumers need only visit the National Flood Insurance Program (NFIP) website (www.fema.gov/nfip) to learn how much their communities put into the NFIP and how much their communities receive in NFIP claim payments. A review of these statistics clearly demonstrates that the premiums paid by a vast majority of policy holders subsidize the claim payments made to a small minority of policy holders.”
Flood Zone Correction, Inc. an advocate for fairness in the evaluation of flood risk and the imposition of insurance requirements, evaluates flood risk not just in the wake of a storm, but 365 days a year. For more information, visit the Flood Zone Correction, Inc. website (www.floodzonecorrection.com) or call toll-free:
1-877-FLOOD ZONE.
Flood Zone Correction, Inc. has corporate headquarters in West Palm Beach, FL. Since its founding in 2001, Flood Zone Correction, Inc. has successfully reclassified over 90 percent of the properties evaluated, saving clients millions of dollars and adding tens of millions to property values.
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