West Palm Beach, FL (PRWEB) January 20, 2006
Flood Zone Correction, Inc., the leading flood zone correction company in the nation, urges all property owners to take a moment during the new year to evaluate the flood risk of their homes and buildings, correct the flood zone classification if it is wrong and adjust flood insurance coverage to meet respective needs and budgets. Doing so creates educated flood insurance customers, improves the value of properties and saves money - always a top ten resolution.
In communities across the country, many residential and commercial property owners are forced to buy high-risk flood insurance when, in fact, 90% or more of them are low-risk and should be able to choose a level of coverage that best meets their need. Federal regulations require lenders to impose flood insurance coverage as part of loan agreements for structures located in flood zones, zones often depicted on outdated maps. The mortgage companies do not evaluate all of the flood risk characteristics of a structure before determining whether or not it is in or out of a flood zone.
“There is a significant inequity inherent to the National Flood Insurance Program (NFIP) which is administered by the Federal Emergency Management Agency (FEMA). Whether intentional or not, the program misleads millions of property owners into thinking that their homes and buildings are at high-risk of flooding when NFIP regulations ensure that they are not,” states Dan Freudenthal, president of Flood Zone Correction, Inc. Freudenthal continues, “The NFIP mandates communities to adopt floodplain regulations in exchange for making flood insurance available to the communities’ property owners. This is a fair trade, and it forces local communities to be proactive in mitigating losses resulting from floods. As a result, millions of low-risk property owners pay premiums that subsidize the premiums and claims of policyholders who truly have high-risk homes and buildings.”
As consumers and companies embark on 2006 with a list of goals and high hopes and anticipate another active storm season, Flood Zone Correction, Inc. issues a reminder to add ”flood risk analysis,” a process that reveals whether or not the home or building is at high-risk or low-risk of flooding in accordance with FEMA standards.
Flood Zone Correction, Inc., headquartered in West Palm Beach, FL, is an advocate for accuracy in the evaluation of flood risk and fairness in the imposition of flood insurance requirements. Since its founding in 2001, Flood Zone Correction, Inc, has successfully reclassified over 90 percent of the residential and commercial properties evaluated, saving clients millions of dollars and adding tens of millions of dollars to property values. For a free flood risk analysis or more information, visit the company’s website at http://www.floodzonecorrection.com or call (877) Flood Zone (877-356-6396).
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