8/22/2011

EBMC Managed Properties Benefit from Flood Insurance Premium Reduction

EBMC partnered with Flood Zone Correction, a company based in Florida, to reduce flood insurance premiums on two EBMC-managed apartment communities.

The first was Alexander Center, a 50-unit rural development located in Arbuckle, California, north of Sacramento.  Flood Zone Correction was able to procure a 13% rate reduction for the current and past premium years, as well as the lower premium rate moving forward.

The second was College Gardens, a 100-unit market rate apartment community in Sacramento, California.  Flood Zone Correction found that the flood zone for this property had changed and resulted in an 81% reduction in annual premiums.   Since the flood zone change was effective in 2008, the property received refunds for three premium years.

Upon learning of these rate and map changes, EBMC’s insurance broker, Michael Miller Insurance (a Farmers agent) began periodically running flood zone determinations on active policies for other properties managed by EBMC.  This resulted in a rate reduction of 79% for Camelot North and Camelot South Apartments, two 20-unit apartment communities in Sacramento, California.  Again, since the flood zone change was effective in 2008, the property received refunds for three premium years.

About:

Eugene Burger Management Corporation (EBMC) is a full-service real estate management company serving investors and homeowners throughout the western United States.

Flood Zone Correction, Inc. (FZC) is a proactive risk management company specializing in the thorough evaluation of flood risk.

Michael Miller Insurance is a full service multiple lines agency/brokerage offering customized insurance solutions for the past three decades to the local community and throughout California.

 

 

 

 

 

 

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