MITIGATION MICHAEL VERNON Hampton Roads Director of ...FLOOD MITIGATION Hampton Roads . Title: Powerpoint-Design2.pptx Author: Krenn Created Date: 5/27/2015 7:13:34 PM

FLOOD MITIGATION Hampton Roads

MICHAEL VERNON Director of Business Development

NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW

• Changing weather patterns • Bigger, stronger storms • Rising sea levels

• Long term erosion • Poor building decisions

• • • • • •


FLOODMAP Elevation certificate Base flood elevation Pre-firm Post-firm V sector AE sector

FEMA's interpretation of flood risk to downtown Norfolk and Ghent neighborhood. Source: City of Norfolk Map Gallery, Flood Insurance Rate Map

24 NATIONAL FLOOD INSURANCE PROGRAM OVERVIEW

The Department of Homeland Security

FEMA

NFIP

NFIP

BILLION in the Hole!

$


The Price of INSURANCE FEMA’s long term financial solution.

RAISING PREMIUMS

LOWER EXPOSURE


FINANCIAL INCENTIVES The government in many instances offers financial incentives when individuals do something that is in the best interest of the whole such as: • Retirement savings (deferred taxation) • Giving to charities (tax deduction) • Borrowing money for a primary home (interest deduction) • Mitigate your home to reduce the risk of flood damage. (reduced flood insurance premiums)

in the Form of Lower Flood Insurance Premiums


Real Life Results Before Cost of Insurance

Cost of Project A2er cost of Insurance

$3,900 $15,000 $332

$4,700 $5,200 $700

$3,700 $5,200 $650

$1,800 $2,300 $350


• Homeowner quoted $2700 per year for flood insurance doubling her previous rate. • The solution is to modify her home according to FEMA standards. She raised her hot water heater and her HVAC. She also installed FEMA certified engineered flood vents. The total cost was $3,200 • Flood insurance was reduced to $733 per year.

CASE STUDY from The Virginian Pilot


CASE STUDY • Agent loses two sales due to flood premiums of $3,900 • FLOOD MITIGATION HR determines home can be made 100% compliant • New quote as if house is mitigated brings premiums to $332 • Mortgage Banking Underwriter states that scope of work qualifies for home improvement loan • Estimated cost of project $15,000

• Relocate electrical panel and hot water heater • Remove and dispose of oil burner and oil tank • Create drainage in basement floor • Fill basement with sand to crawl space height • Install Certified Engineered flood vents through our crawl space • Process all documents


CASE STUDY/ SCOPE OF WORK

• • • • • •


CASE STUDY

Home has new hot water heater and electrical panel Home is much more resistant to flooding due to mitigation Market value of home is reestablished Insurance premiums are low and will only slowly increase Home moves in a normal time frame Real estate market and community remain healthy

• The seller • The buyer • The real estate agent • The insurance agent

• The mortgage banker • Flood Mitigation • The community • The country


CASE STUDY AND THE WINNERS ARE?

SOLUTIONS


•  Elevation certificates •  Free estimates for vents •  Assessments for projects with return credit •  Design and consultation •  Flood and Storm related products •  Construction management for mitigation and non-mitigation

projects •  Comprehensive document processing •  Website and sales support

FLOOD MITIGATION Offers Flexible Hampton Roads


• One-piece vent plate with easy to insert vermin screen and fixed louver. • Made of durable PVC/ABS plastic (no rust or rot) with a UV retardant treatment. • Can be installed in Crawlspaces and Doors

FEMA APPROVED Flood Vents Raise the House

MICHAEL VERNON 1-844-vents4U (1-844-836-8748)

757-636-6455 [email protected]

FLOOD MITIGATION Hampton Roads

Documents

MITIGATION MICHAEL VERNON Hampton Roads Director of ...FLOOD MITIGATION Hampton Roads . Title: Powerpoint-Design2.pptx Author: Krenn Created Date: 5/27/2015 7:13:34 PM