Homeowner’s Guide to Elevation Certificates

An Elevation Certificate is an important tool that documents your building’s elevation. If you live in a high-risk flood zone, you should provide an Elevation Certificate to your insurance agent to obtain flood insurance and ensure that your premium accurately reflects your risk. Obtaining an Elevation Certificate also can help you make decisions about rebuilding and mitigation after a disaster. Comparing Your Building’s Elevation to a Potential Flood Level • Your insurance agent will use the Elevation Certificate to compare your building’s elevation to the Base Flood Elevation (BFE). • The base flood is a flood with a 1 percent chance of occurring in any given year. The BFE identifies how high the water is likely to rise (also called water surface elevation) in a base flood. The land area of the base flood is called the Special Flood Hazard Area, floodplain, or high-risk zone. • Flood insurance rates in a high-risk zone (a zone beginning with the letter A or V) are based on a building’s elevation above, at, or below the BFE. Elevation and Flood Insurance Rates • Generally, in high-risk zones, the higher above the BFE a building is located, the lower the insurance premium will be for that property. The Elevation Certificate provides the documentation necessary to make that determination. • In moderate- to low-risk zones (zones beginning with letters B, C, or X), rates are not based on elevation, so an Elevation Certificate may not be necessary to determine the premium. If you need more information, contact me at: www.es-insurance.com

CHANGES TO FLOOD INSURANCE RATES

The National Flood Insurance Program is changing. The Biggert- Waters Flood Insurance Reform Act of 2012 (BW-12) reauthorized the National Flood Insurance Program (NFIP) and outlined reforms to make the program more sustainable, including the removal of long-standing subsidies. The first phase of rate increases (Section 100205) affects many policyholders who own homes built before the community adopted its first Flood Insurance Rate Map (FIRM). Many of these policyholders historically have paid subsidized rates that do not reflect the property’s true risk. Follow my next blog to find out WHO PAYS SUBSIDIZED RATES?

Florida Tornado Damage Estimated at $5 Million

Seven homes were destroyed and more than 150 damaged by the tornado that struck a central Florida neighborhood Saturday, city officials said. The National Weather Service said the tornado had winds as high as 110 miles per hour and was 25 to 75-yards wide. Palm Coast city officials said 142 homes were partially damaged in the Indian Trails neighborhood and 22 homes had moderate damage. The damage was estimated at more than $5 million. No injuries were reported. The tornado knocked down power lines, power poles and trees; and many roads were impassable. At one point, nearly 3,000 homes were without power. But city officials said Sunday that power has been restored to most households, and roads have been reopened. The area is still filled with debris and city officials urged residents and gawkers to stay off the roads. The American Red Cross is providing food and shelter assistance. For more information please contact me. Juan D. Espinosa www.es-insurance.com

Happy Thanksgiving

Ten Common Sources of Water Damage to Your Home. - Steps to Prevent Loss.

Roof • Hire a professional to inspect your roof annually. • Repair cracked or missing shingles, pooling water and flashing deterioration. Plumbing • Visually inspect pipes annually for condensation, corrosion or obvious leaks. • Call a plumber at the first signs of rust-colored water or backed up toilets or sinks. Refrigerator icemaker • Make sure the supply line hose is properly installed. • Inspect the hose every six months looking for a secure connection. • Replace the hose if kinks are found. Washing machine • Inspect the water supply hoses every six months for cracks, kinks or dry rot. • Consider replacing rubber hoses with stainless steel. Water heaters • Remove sediment by flushing the tank every six months. • Hire a professional plumber to inspect the unit at least once every two years. Toilets • After flushing, remain close by until the fill valve has finished refilling the bowl. • Inspect the supply line, valve and flushing mechanism every six months. Sinks • Inspect the plumbing beneath sinks every six months. • Repair any corrosion and loose connections. Kitchen and bathroom tiling • Inspect the tile and grout around sinks and showers every six months. • Repair any loose or cracked tiles and crumbling grout lines. Shower • Test the shower pan annually to see if it holds water properly when the floor drain is blocked. Sump pump • Follow the manufacturer’s recommendations for maintenance. • Inspect the pump annually. • Install a battery backup system to avoid malfunctions during a power outage. For more information please contact me. Juan David Espinosa www.es-insurance.com

Hurricane Loss Prevention Tips

Previous hurricane seasons, like 2004, have provided painful lessons in the importance of preparing for such destructive storms. Perhaps the most important of all is the need to properly protect your home sooner than later. This will allow you to focus on other important actions when a hurricane approaches, including gathering supplies and heeding evacuation orders. The first step is to decide what level of protection you want and can afford – especially for doors and windows. Then you can permanently install any hardware that should be in place before storms start brewing. When a storm threatens, you can quickly install the protection and move on to other tasks and actions. Protecting Windows Installing Plywood Shutters Protecting Doors Roofing Tips A stronger roof can also increase your home’s resistance to high winds. If you are replacing your roof, the contractor should: • Remove old coverings down to the bare wood sheathing. • Remove enough sheathing to confirm rafters and trusses are securely connected to the walls. • Replace damaged sheathing. • Refasten existing sheathing with 8d ring shank nails at 6” spacing on all support members. • Seal all roof sheathing joints with self-stick rubberized asphalt tape (or equivalent system) to provide a secondary moisture barrier.  Choose a roof covering designed to resist high winds and make sure it is installed according to manufacturer recommendations. Additional Steps to Consider  Shutter and seal gable end vents to prevent wind driven rain from entering attic space.  Use a high quality silicone caulk around outside wall openings such as clothes dryer, kitchen or bathroom vents, outdoor electrical outlets and where cables or pipes go through the wall. Just before a storm, close dryer and bathroom vents with duct tape (but remove it after a storm, before using the vents.)  Consider cutting wall screens in pool enclosures just before the storm hits, if you are still there and your property is located near the landfall position. This may save the aluminum enclosure. For More Information contact me Juan David Espinosa www.es-insurance.com

Sinkhole Coverage - Florida’s Top 10 Sinkhole-Prone Counties

It’s no secret that property/casualty insurers have been fielding more and more sinkhole claims in Florida and now online hazard mapping firm CDS Business Mapping and its RiskMeter Online service have come up with a list of the top 10 sinkhole prone counties in Florida.
The list is based on information from the company’s RiskMeter’s sinkhole database and its sinkhole clearinghouse, which the company says contains more than 12,000 sinkholes not available from public sources.

Sinkhole losses have been on the rise the last few years in Florida. According to a report by the state, 211 property insurers responded that claims increased from 2,360 in 2006 to 6,694 in 2010, totaling 24,671 claims. The total dollar amount of those claims was approximately $1.4 billion.
RiskMeter’s Top 10 Sinkhole-Prone Counties in Florida are:

1. Pasco
2. Hernando
3. Hillsborough
4. Marion
5. Pinellas
6. Citrus
7. Polk
8. Orange
9. Seminole
10. Lake

For more Information please contact me at: www.es-insurance.com


Regards,
Juan David Espinosa