Installation flood solutions can help save you on your insurance premiums
A large commercial real estate owner had a Hotel on the water, paying $105,000 for flood insurance.
Flood Risk America provided a complimentary Vulnerability Assessment, demonstrating how flooding and storm surges would affect the hotel, as well as incorporating the investigation of historical flooding. Flood Risk America then confirmed, from the Vulnerability Assessment, how the hotel could avoid future flood losses.
FRA installed flood panels on the ground floor lobby to protect the elevators and lobby from avoiding a flood loss. FRA then went back to the insurance carrier and provided a customized flood mitigation plan for the Hotel. The insurance carrier then reduced the flood premium by $76,000.
o Cost of current annual flood premium: $105,000
o Current savings with flood mitigation plan: $76,000
o New current flood premium: $29,000