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	Name:	Osms -
	Subject:	realfast...
	Date:	4/30/2009 9:36:55 PM

Tallapoosa County has participated in the Nat. Flood Ins. program for years. The problem lies in the Alabama Office of Water Resources, a division of ADECA, used old maps to update the FEMA flood data. The maps used were 18-20 years old and have low resolution contour lines, which triggered mortgage companies to require flood insurance on all "conforming" (Freddie and Fanny) loans. Unfortunately, mortgage companies have utilized some service companies to do their dirty work and these companies must see an opportunity for a quick profit, by quoting and selling commercial flood insurance at rates several times the amount FEMA charges. The following is suggested:

1. Do not disregard the letter--you could be billed for the high premium, if you do not respond within the allotted time.

2. You can file an exemption with FEMA to be removed from the flood area if your house is above the base flood elevation. Part of this filing includes an elevation survey that must be completed by an engineer at a cost of $300-500.

3. If you run out of time allowed by the letter--buy FEMA flood insurance, not the commercial insurance indicated in the letter.
$250K is the max from FEMA and you should be able to buy that for $300-400/yr. If you win approval of the exemption from FEMA, then FEMA will pay your premium back to you in the first year. Commercial insurance will not refund.

4. Call your state office for advice or to complain--they need to hear that their citizens are upset. The Alabama Flood Insurance Director's phone number is 334-353-0853. You might consider writing the Governor or the Director of ADECA.

FEMA information is available at the website below.

URL: FEMA Flood Insurance Info