Not all flood risk is equal!Did you know: Properties are either in or out of a FEMA-designated high-risk flood zone (Special Flood Hazard Area). Those with federally-backed mortgages designated in the SFHA are required to carry flood insurance. Recent changes made to the National Flood Insurance Program (NFIP), which is administered by Federal Emergency Management Agency (FEMA), will cause insurance premiums to rise at alarming rates.Redrawn flood maps in communities throughout the country will place more commercial and residential property owners in a high-risk flood zone, where the purchase of flood insurance is required if the property carries a mortgage. Even if the property is located in a FEMA-designated high-risk flood zone, there are a number of factors that influence the cost of the premium.A flood risk evaluation verifies whether or not the flood zone designation is correct and whether or not the property owner may be able to reduce or eliminate the premium. For commercial property owners, depending upon the insurance program, they may be able to maintain the same level of coverage.If you are required to carry flood coverage, it pays to evaluate the true flood risk of the individual structure to protect the investment, increase value and capture savings.My name is Michael Freedman and I am President of Flood Insurance Solutions, formerly AmeriFlood Solutions, Inc. I work with commercial and residential property owners, their agents, brokers and representatives, lenders and servicing agents to manage flood risk and make prudent decisions in the protection of real estate assets.