Building a Floodproofed Basement
If you are building a new house consider adding a floodproofed basement to the construction. Why? A floodproofed foundation offers protective featuresand it hedges against flood risk today and tomorrow.
- Certified floodproofed by a professional engineer
- Lower flood insurance rating on standard policies
- Increased salability
- Peace of mind
- No floodproofed foundation has ever failed in Fargo
Here is a flood insurance rating example to illustrate the insurance point:
House A chooses not to floodproof and house B floodproofed. Both are newly mapped into the SFHA (high risk zone) and have to carry flood insurance. Both will be eligible to use the grandfather rules in standard rated policies, but their premiums will differ.
- House A will annually pay around $1,600.
- House B pays much less because?
If it is floodproofed to 1 foot above the Base Flood Elevation:$623
2 foot above: $362
3 foot above: $310
Even in the high risk zone (SFHA), House B has the potential to pay less for flood insurance than a house located in the low risk zone. Why? Simple, it has a floodproofed basement!
If your house gets mapped into the Special Flood Hazard Area in the upcoming map revision or any future revision and you have a federally backed mortgage you will be required to carry flood insurance.
Floodproof certification requires design by a registered professional, additional structural components and a 7-point construction inspection by the Fargo Inspections Department. Floodproofing a foundation adds between $4-6,000 in cost.
For all flood insurance questions call your insurance agent. For basement floodproofing requirements, call the Fargo Building Inspections Department 241-1561.