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Started By
Message
Anyone have experience getting out of Flood Insurance?
Posted on 3/6/15 at 6:09 pm
Posted on 3/6/15 at 6:09 pm
Shite is biggest scam ever. My house will never ever flood and yet I pay nearly a grand a year on flood insurance. And even if it does flood...in a case such as that Ill go ahead and pay the repair cost.
Suggestions anyone?
Don't wanna move and not close to paying off house. I know those are the 2 easiest answers.
Suggestions anyone?
Don't wanna move and not close to paying off house. I know those are the 2 easiest answers.
15
Posted on 3/6/15 at 6:32 pm to Random LSU Hero
You answered your own question.
This post was edited on 3/6/15 at 6:34 pm
Posted on 3/6/15 at 6:35 pm to Random LSU Hero
Buy new insurance?
Posted on 3/6/15 at 6:39 pm to Random LSU Hero
If you're in a flood zone, I think you are required to have flood insurance.
Posted on 3/6/15 at 6:40 pm to Hugo Stiglitz
Mortgage rules, they have the gold, they make the rules.
Posted on 3/6/15 at 6:40 pm to Random LSU Hero
I'm guessing lenders requirements?
Rent
pay cash
post a bond
That's all I have
Rent
pay cash
post a bond
That's all I have
Posted on 3/6/15 at 6:41 pm to Thurber
quote:This is correct.
If you're in a flood zone, I think you are required to have flood insurance
Posted on 3/6/15 at 6:43 pm to Thurber
quote:
If you're in a flood zone, you are required to have flood insurance.
Or else the bank will buy it for you, which you definitely don't want
Posted on 3/6/15 at 6:44 pm to Random LSU Hero
There's a perfect storm of grandfathering, subdividing, and elevation that could get your premium lower, but it's a stretch. You're stuck with the flood insurance.
This post was edited on 3/6/15 at 6:45 pm
Posted on 3/6/15 at 6:44 pm to Random LSU Hero
quote:
And even if it does flood...in a case such as that Ill go ahead and pay the repair cost.
2" of water in most homes will cost 10's of thousands to repair. 1' of water is much more than that.
Posted on 3/6/15 at 6:52 pm to Random LSU Hero
Have you ever herd of a storm named Katrina? You know many of those people said there house would never flood?
Posted on 3/6/15 at 7:07 pm to Tigerpaw123
If he is paying $1k a year, he is low, relative to the BFE. I am in flood zone A but a high elevation and only pay $350 a year for max coverage...
Posted on 3/6/15 at 7:14 pm to Random LSU Hero
How will your house never flood?
What zone are you in?
What zone are you in?
Posted on 3/6/15 at 7:18 pm to Tigerpaw123
quote:
Have you ever herd of a storm named Katrina? You know many of those people said there house would never flood?
My house didn't flood for the May 8th flood or Katrina. Still have insurance,
Posted on 3/6/15 at 7:22 pm to Random LSU Hero
Lot's of people in NOLA were super happy it was mandatory thru certain lenders to have it. I dropped mine when it was paid off. If I flood, NOLA ain't coming back.
Posted on 3/6/15 at 7:24 pm to Napoleon
I'm in C. I added almost 3' of fill. Still bought flood insurance
Because south Louisiana.
Because south Louisiana.
Posted on 3/6/15 at 7:53 pm to Tigerpaw123
quote:
Posted by Tigerpaw123
Have you ever herd of a storm named Katrina? You know many of those people said there house would never flood?
Tell you what, I'll take my chances.
Posted on 3/6/15 at 7:56 pm to Random LSU Hero
quote:Well pay off your mortgage and "take your chance", just don't expect the person holding the value of the property you are living on to "take the chance" for you
Tell you what, I'll take my chances.
Posted on 3/6/15 at 7:58 pm to SuperSaint
quote:
Well pay off your mortgage and "take your chance", just don't expect the person holding the value of the property you are living on to "take the chance" for you
Was about to say, do you even own your property?
Posted on 3/6/15 at 8:16 pm to TheCaterpillar
OP is stupid.
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