Across America, flood insurance is a requirement for many business owners. Often relying on outdated flood maps or flood zone determinations, properties can be left vulnerable without effective flood protection. Flood Risk America (FRA) creates accurate high-resolution digital elevation model flood maps or (DEM) data using the unique LiDAR technology. This innovative technology uses a pulsed laser to calculate the object’s variable distance from the earth’s surface. Flood Risk America flood maps are FEMA insurance-industry recognized and can replace your existing flood map.
How can a new flood map help save my business money?
After a detailed vulnerability assessment and flood map data has been collected to demonstrate how flooding and storm surges can affect your property, FRA can determine how you can avoid future flood losses. Creating a customized flood mitigation plan and installing the appropriate flood control barriers is the next step in saving money on your flood insurance.
Once you have completed your risk assessment and installed a plan for future flood prevention, you can submit this information to your insurance carrier. This process often saves our customers thousands.
Case study: Hotel saved $76,00 on their insurance premiums.
Coastal properties often pay high premiums for their flood insurance. Our client owned a luxury hotel on the water and was paying a hefty $105,000 annually for flood insurance.
Our team of experts at FRA provided a complimentary Vulnerability Flood Risk Assessment, demonstrating with our LiDAR technology how flooding and storm surges could affect the hotel and cause possible flooding. The FRA team investigated historical flooding events and hypothesize the risk of future events. With this data, FRA created a flood mitigation plan, customized flood control barriers to avoid potential flood damages in the future.
FRA installed custom-fabricated flood panels on the ground floor lobby to protect the elevators and lobby from avoiding a flood loss. These easy-to-install flood panels are FEMA compliant, corrosion-resistant, and lightweight. Once the flood mitigation system was in place, the FRA team communicated with the hotel’s insurance carrier showing the detailed and accurate prevention plan. With the new flood prevention plan in place, the insurance carrier 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
Flood Risk America is a team of flood prevention experts here to help you save your investment and save you money. Contact us for your free quote.
