Final answer:
An Elevation Certificate is required to purchase a flood insurance policy on a Pre-FIRM building. It provides information about the structural elevation of the building relative to the base flood elevation. Obtaining the certificate involves hiring a professional surveyor or engineer.
Step-by-step explanation:
An Elevation Certificate is required to purchase a flood insurance policy on a Pre-FIRM (Flood Insurance Rate Map) building. The Elevation Certificate is a document that provides information about the structural elevation of a building relative to the base flood elevation (BFE).
If the building is located in a Special Flood Hazard Area (SFHA) and does not have an Elevation Certificate, the insurance company may not be able to accurately determine the flood risk associated with the building, resulting in either the denial of coverage or higher insurance premiums.
Obtaining an Elevation Certificate involves hiring a professional surveyor or engineer to evaluate and measure the elevation of the building's lowest floor, as well as other relevant information. This ensures that the flood insurance policy is based on accurate and reliable data.