Yes, it is not only possible, but highly probable that a lower premium may be secured. Most insurance companies compute the rate for flood insurance based on the worst case scenario; that is, the highest possible rate. However, if the house is elevated above the level at which the government has determined that flooding is probable; the insurance company can use specific elevation information to compute a lower rate, based on a sliding scale. The specific information necessary for rate determination is provided on an Elevation Certificate.

Myths and Facts of Flood Insurance