Flood Insurance

[warren5421]

How many have flood insurance that live beach front? My son is an insurance adjuster working in Florida and said it was sad that a lot of the totaled homes was not covered by flood insurance. The high tide water did the damage not wind so the people lose!!! High tide water is flood water. On the beach I would not think of flood insurance.

 

[NC FNS]

My limited experience tells me that the cost is so prohibitive that many opt out of it.

 

[WanderLust]

Some regulations (state or Federal) may prohibit an owner buying the insurance EXCEPT during the first 30 days after purchase. This is mainly to prevent people from buying it just before a storm then canceling it later, then repeating again. Also, some insurers and/or lenders have certain requirements converning this secondary insurance.

 

[Jeepnik]

Well when I had a mortgage it was required to have flood insurance. Why? Because I live in an arbitrarily designated flood zone.

The has never been a flood in recorded history where I live. And while I live very close to the ocean unless a tsunami can top the roughly 200' cliffs I live on I'm pretty sure I'm safe.

Mandating things like flood insurance is solely for the purpose of making money.

 

[gnappi]

When I lived on a salt water canal very close to the Intracoastal Waterway we had fall "King tides" that licked my dock stringers, a couple of canes had water almost up to my patio and yes, I had flood insurance.

 

[David Lee Valdina]

If you believe your property was incorrectly identified as a Special Flood Hazard Area (SFHA) by the National Flood Insurance Program (NFIP), you may submit an application to FEMA for a formal determination of the property's location and/or elevation relative to the SFHA. This is called a Letter of Map Change (LOMC) request.

A "Special Flood Hazard Area" has a one percent or greater chance of flooding in any given year, sometimes referred to as the one-percent-annual-chance flood or base flood.
After FEMA reviews the map change request, it will issue a determination document, either approving or denying the map change. There are two types determination documents you can seek in your LOMC request.

• Letter of Map Amendment (LOMA): A letter from FEMA stating that an existing structure or parcel of land — that is on naturally high ground and has not been elevated by fill — would not be inundated by the base flood.
• Letter of Map Revision Based on Fill (LOMR-F): A letter from FEMA stating that an existing structure or parcel of land has been elevated by earthen fill and would not be inundated by the base flood.

If FEMA grants the map amendment or revision request, the property owner may no longer be required to pay flood insurance. The property owner may send the determination document to their lender and request that the federal flood insurance requirement for the structure be removed.

 

[pisgah]

The only real flood insurance is -- don't build in a flood plain. And as folks in Western NC will attest, darned few people recognize one when they see it...

 

[Jeepnik]

If you believe your property was incorrectly identified as a Special Flood Hazard Area (SFHA) by the National Flood Insurance Program (NFIP), you may submit an application to FEMA for a formal determination of the property's location and/or elevation relative to the SFHA. This is called a Letter of Map Change (LOMC) request.

A "Special Flood Hazard Area" has a one percent or greater chance of flooding in any given year, sometimes referred to as the one-percent-annual-chance flood or base flood.
After FEMA reviews the map change request, it will issue a determination document, either approving or denying the map change. There are two types determination documents you can seek in your LOMC request.

• Letter of Map Amendment (LOMA): A letter from FEMA stating that an existing structure or parcel of land — that is on naturally high ground and has not been elevated by fill — would not be inundated by the base flood.
• Letter of Map Revision Based on Fill (LOMR-F): A letter from FEMA stating that an existing structure or parcel of land has been elevated by earthen fill and would not be inundated by the base flood.

If FEMA grants the map amendment or revision request, the property owner may no longer be required to pay flood insurance. The property owner may send the determination document to their lender and request that the federal flood insurance requirement for the structure be removed.

When I bought my house FEMA didn't exist.

 

[Jeepnik]

The only real flood insurance is -- don't build in a flood plain. And as folks in Western NC will attest, darned few people recognize one when they see it...

Even when hazards are well documented people still build.

An area not far from me has slid into the ocean since time immemorial. Houses built there were eventually bulldozed. The government spent millions (billions?) to stabilize the land. There attempts failed.

But people were allowed to build in areas directly adjacent to the slide. Now that the homes are sliding, underground utilities are ripping apart and roads a torn asunder theses folks want the government to pay top dollar for their homes. Apparently being stupid enough to build in aValise area isn't the builders fault. It's all the government's.

 

[CHEVYINLINE6]

My mother lived in a flood zone for 68 years and could not get flood insurance. I live on a hill in S.W. Washington where there never would be a flood and I have to have flood insurance. Portland could be under 100 feet of water and I still would be safe.

CHEVYINLINE6.

 

[Jeepnik]

My mother lived in a flood zone for 68 years and could not get flood insurance. I live on a hill in S.W. Washington where there never would be a flood and I have to have flood insurance. Portland could be under 100 feet of water and I still would be safe.

CHEVYINLINE6.

State or bank requirement?

 

[CHEVYINLINE6]

State or bank requirement?

Being California, probably state. She owned her home.

CHEVYINLINE6.

 

[Kevin]

We have a house down near Galveston on the beach. Along with flood insurance we also have wind storm damage insurance. I think that's more expensive than flood insurance.

But the flood insurance is a joke. The house is 22 feet off the ground, if it floods, more than likely downtown Houston will be underwater as well. Definitely all of Galveston would be.

Ok just checked, Houston’s elevation is 105’ so it’s safe…or safer at least.

This past summer we did have a couple storms, one had 6 to 7 foot storm surge and the floor or our garage under the house was completely dry.

 

[john guedry]

As someone who has been flooded and had flood insurance, I can't say enough good about it. They paid very well. No arguing or disputing.