Final answer:
Elevating the lowest floor of a Post-FIRM building 1 foot above the BFE can result in cost savings on flood insurance due to lower flood risk. The specific savings depend on various factors and should be confirmed with an insurance provider or professional.
Step-by-step explanation:
The Base Flood Elevation (BFE) represents the expected height of floodwaters during a 1% annual chance flood event.
If the lowest floor of a Post-FIRM (Flood Insurance Rate Map) building is constructed 1 foot above the BFE instead of at the BFE, there can be a cost savings on flood insurance.
This is because insurance premiums are determined based on the elevation and flood risk.
By elevating the lowest floor above the BFE, the building is considered to have a lower flood risk, which can result in lower insurance rates.
The specific cost savings would depend on various factors, such as the insurance company and the location of the building.
It's important to note that the BFE is determined by considering factors like historical flood data, topographical information, and floodplain regulations.
It's always recommended to consult with an insurance provider or a licensed professional to get accurate and up-to-date information regarding flood insurance premiums.