Elevation Programs Require Insurance - Now!Wednesday October 26, 2016 12:18 pm
FEMA has been opening their applications in March or April to elevate, relocate, demolish or demolish and rebuild severe repetitive loss and repetitive loss properties.
The program for SRL properties is now 100%. These properties are designated as SRL by FEMA after they have flood damages equal to 100% of the value of the property, or 4 floods with paid claims over $5,000 each. However, applicants must have flood insurance180days prior to the application to be eligible to apply.
The Parish is willing to apply for buyouts for repetitive loss properties outside the Morganza to the Gulf footprint as well.
Repetitive loss properties are eligible for up to 90% of the total project cost including the cost of relocating while the structure is being elevated, moved, or built.
Remember to bring an elevation certificate to your insurance agent to see if you are eligible for any discounts at your current height. Elevated air conditioners and water heaters can earn discounts even if the structure still requires elevation.