Ted Todd Insurance Agency helps nearly 600 homeowners eliminate mandatory flood insurance policies

Fort Myers, FL – July 30, 2009 – The Ted Todd Insurance Agency has helped nearly 600 area homeowners get removed from mandatory flood insurance requirements through the FEMA Letter of Map Amendment (LOMA) process.

Ted Todd and Maggie Vargas have worked with entire communities, individual residents and Bean, Whitaker, Lutz & Kareh, Inc. civil engineers for the last seven months to help property owners convert FEMA primary flood zone to secondary flood zone determinations that eliminate mandatory flood insurance. They jointly held informational meetings in the Copperleaf, Cascades, San Carlos, Miromar Lakes, Corkscrew, Garden Lakes and Shadow Woods at the Brook communities to explain the LOMA process and offer assistance. Individual elevation surveys found almost 600 properties so far to be in secondary flood zones—a change that could save affected mortgage holders around $300,000 a year in premiums.

“We feel it’s still a good idea in our low-lying Florida landscape for property owners in secondary flood zones to carry optional preferred flood policies that cost 50-80% less than standard policies,” said Ted Todd, “but most mortgage companies eliminate mandatory flood insurance coverage for qualifying properties.”

The Todd Agency continues to spearhead the program as a community service to help property owners understand their options and make smart choices. The Ted Todd Insurance Agency has over 30 licensed professionals locally providing home, auto, business, commercial, retirement, and life insurance products at its six regional offices located throughout Lee, Collier and Sarasota Counties.