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Flood Insurance in New Orleans
Posted on 5/16/14 at 10:37 am
Posted on 5/16/14 at 10:37 am
We are looking at homes in New Orleans and can't seem to get clear information on flood insurance rates. Seems the information is not available until an offer on property is made, kind of like hidden costs. Anyone have any info on this. I have printed the rate tables from FEMA and seems Zones A and V are the ones with highest rates and I think I can uses this information to give me a range estimate. Thanks
8
Posted on 5/16/14 at 10:41 am to Isabelle
where is the house? i can tell you roughly what you might be looking at.
Posted on 5/16/14 at 10:42 am to Geauxld Finger
quote:
where is the house?
Posted on 5/16/14 at 10:47 am to Isabelle
A lot.
Posted on 5/16/14 at 10:47 am to Isabelle
Posted on 5/16/14 at 10:55 am to Isabelle
Varies a lot depending on where the house is. In Slidell I'm only paying $414/yr.
Posted on 5/16/14 at 10:58 am to 911Moto
My mom pays about 1000/year for her house in Algiers
Gf's family lives in a no flood zone in River Ridge. They don't have any as far as I know.
Gf's family lives in a no flood zone in River Ridge. They don't have any as far as I know.
Posted on 5/16/14 at 11:28 am to Geauxld Finger
8330 Cohn St (Near Carrollton and Claiborne)
8328 S Claiborne (2-3 blocks off Carrollton and Claiborne)
4211 S Johnson (Napoleon and Broad)
730 Bordeaux (between Tchoupitoulas and Magazine)
2433 Orleans Ave (2-3 blocks off Broad on Fairgrounds side)
3248 Castiglione (2 blocks from fairgrounds)
Thanks
8328 S Claiborne (2-3 blocks off Carrollton and Claiborne)
4211 S Johnson (Napoleon and Broad)
730 Bordeaux (between Tchoupitoulas and Magazine)
2433 Orleans Ave (2-3 blocks off Broad on Fairgrounds side)
3248 Castiglione (2 blocks from fairgrounds)
Thanks
Posted on 5/16/14 at 11:29 am to Isabelle
Ouch. You gone get rapped
Posted on 5/16/14 at 11:31 am to Geauxld Finger
I remember a no flood zone area in River Ridge, where many pianos in homes were under water. None had flood insurance.
Posted on 5/16/14 at 11:32 am to Isabelle
Those areas are all in flood zones. It will cost a good amount i think unless the house is raised. You need to consult the flood maps and call some insurance companies for estimates. They should be obligated to give you rates I would think.
This post was edited on 5/16/14 at 11:33 am
Posted on 5/16/14 at 11:34 am to Geauxld Finger
K thanks.
ETA: in the 46 years I lived in New Orleans it flooded twice due to heavy rain. Katrina was after we moved and I consider that flood a man made disaster.
ETA: in the 46 years I lived in New Orleans it flooded twice due to heavy rain. Katrina was after we moved and I consider that flood a man made disaster.
This post was edited on 5/16/14 at 11:37 am
Posted on 5/16/14 at 11:39 am to Isabelle
Are those homes you're looking to rent out? I sure hope you're not considering living at any of those locations, except maybe the Bordeaux location.
Posted on 5/16/14 at 11:47 am to Isabelle
I haven't looked at a map to confirm but those addresses seem to be in pretty shitty neighborhoods.
This post was edited on 5/16/14 at 11:47 am
Posted on 5/16/14 at 12:36 pm to BottomlandBrew
We are buying. The locations are really not bad. We have guns and we know how to use them. Oh and 4 dogs.
Posted on 5/16/14 at 12:38 pm to Isabelle
quote:
730 Bordeaux (between Tchoupitoulas and Magazine)
Will be the cheapest. Closest to the River.
Posted on 5/16/14 at 1:17 pm to Isabelle
Do you have an insurance agent? Give them a buzz and give them a couple of the addresses. They should be able to ballpark it for you.
With all the changing maps, etc, it's probably not easy to figure out yourself.
Also, when you say "information is not available until an offer on property is made" who is telling you that? I've looked at a few houses and I was able to get the exact amount just by asking. A couple of them even wrote the amount and coverage levels on the disclosure forms.
If a realtor/owner is not willing to tell you their coverage amounts and premiums - at least for structure - I would take that as a big red flag. It's probably real high.
With all the changing maps, etc, it's probably not easy to figure out yourself.
Also, when you say "information is not available until an offer on property is made" who is telling you that? I've looked at a few houses and I was able to get the exact amount just by asking. A couple of them even wrote the amount and coverage levels on the disclosure forms.
If a realtor/owner is not willing to tell you their coverage amounts and premiums - at least for structure - I would take that as a big red flag. It's probably real high.
Posted on 5/16/14 at 1:19 pm to LSUFanHouston
Thanks LSUFan. I will remember this while seeing houses tomorrow.
Posted on 5/16/14 at 1:19 pm to Isabelle
quote:
I remember a no flood zone area in River Ridge, where many pianos in homes were under water. None had flood insurance.
I lived in St Bernard when Katrina hit. We were in a no flood zone. Flood insurance not required. We had 11 feet of water in Katrina. We did have flood insurance. I cannot imagine buying property south of the lake and not having it.
Ironically, with the new flood maps, that part of St Bernard is even LESS of a risk for flooding, due to the rebuilt levee. It's strange.
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