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Flood Insurance Question
Posted on 8/25/15 at 9:39 am
Posted on 8/25/15 at 9:39 am
Just got back my elevation certificate on the house I am looking at in the Lakeview area of NOLA(it is actually in Lakeshore, the levee side of Robert E Lee). The house is in zone AO which is BFE 1.5. Well the surveryor measured the house at 1.70. Will this be enough to make the premiums reasonable or not really? Also, I wish they would come out with the revised firm maps officially because the house is rezone in ZONE X due to levee protection
3
Posted on 8/25/15 at 9:57 am to lsupride87
quote:What do you consider reasonable? How much coverage you need on the house? Contents?
Will this be enough to make the premiums reasonable or not really?
Posted on 8/25/15 at 9:59 am to Shadowlink
I will most likely do the max 250/100. I consider $1000 ish reasonable. I would think having the certification above BFE should keep me around that number. If they finally rezone the prelim maps I will be looking at around $500 in zone x
Posted on 8/25/15 at 10:09 am to lsupride87
quote:If this stands true and doesn't change due to a data conversion. You'll be classified at 0 base flood. My thoughts are that with 250/100 you'll be above $1000, but under $1500. X zone makes everything easier since it's $430 this year.
The house is in zone AO which is BFE 1.5. Well the surveryor measured the house at 1.70.
Only way to find out for sure is to call any agency and ask for a quote.
Posted on 8/25/15 at 10:18 am to Shadowlink
quote:That is about what I figured. Im ok with this because like I said the prelimenary FIRM maps have the house moving into ZONE X, which means hopefully the rate will decrease
If this stands true and doesn't change due to a data conversion. You'll be classified at 0 base flood. My thoughts are that with 250/100 you'll be above $1000, but under $1500
quote:Already in the process. Figured someone like you could give me a solid guess though
Only way to find out for sure is to call any agency and ask for a quote.
Posted on 8/25/15 at 12:52 pm to lsupride87
Ask about rate, if you increase your deductible
Posted on 8/25/15 at 12:59 pm to lsupride87
There are different rates dependent on being at, below, or above the BFE by certain amounts. It is all pretty standard based on:
1. CURRENT FEMA Map covering your area
2. Elevation certificate on your home (if you have one)
So, I bet you can probably get your rate on the NFIP website or very close....
1. CURRENT FEMA Map covering your area
2. Elevation certificate on your home (if you have one)
So, I bet you can probably get your rate on the NFIP website or very close....
Posted on 8/25/15 at 6:41 pm to lsupride87
Usually you need to be a foot above BFE to see real savings. I built in a flood zone and built it 6 inches above BFE which rounded up to a foot.
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