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Flood insurance recommendations??
Posted on 8/17/16 at 2:10 pm
Posted on 8/17/16 at 2:10 pm
In BR. flood X. Luckily our entire neighbor hood was high and dry but this incident got me rattled.
Reputable company/ person I should contact? Average annual policy to expect on 500K home? Any fine print to look out for? TIA
Reputable company/ person I should contact? Average annual policy to expect on 500K home? Any fine print to look out for? TIA
Posted on 8/17/16 at 2:11 pm to LSUregit
max policy: 250k building; 100k contents $450 total, they all the same.
Posted on 8/17/16 at 2:11 pm to LSUregit
I think it is all underwritten by the Feds. Your homeowners should be able to help you with getting it.
Someone can correct me if I'm wrong.
Someone can correct me if I'm wrong.
Posted on 8/17/16 at 2:11 pm to LSUregit
Doesn't matter who you're agent is. If quoted properly it's the same premium with anyone since it's the NFIP program. You would need an excess policy since max coverage is 250k for building, 100k for contents.
Posted on 8/17/16 at 2:15 pm to LSUregit
quote:
Any fine print to look out for?
Do understand that water has to rise, rushing water is not covered by flood insurance.
Posted on 8/17/16 at 2:21 pm to LSUregit
All are underwritten through NFIP (National flood insurance program). All policies are the same. Go with the carrier that writes your home or autos. If your homeowner insurance company doesn't participate find a local agent with a company with good service ratings.
Posted on 8/17/16 at 2:53 pm to ShermanTxTiger
I used USAA and I got my policy 2 days ago. Of course it won't be in effect until after the 30 day waiting period.
Posted on 8/17/16 at 3:02 pm to Broke
Did you need to get an elivation certificate? If so where did you get it?
Posted on 8/17/16 at 3:04 pm to JOJO Hammer
quote:
Did you need to get an elivation certificate? If so where did you get it?
Surveyor has to provide the elevation certificate.
Posted on 8/17/16 at 3:07 pm to JOJO Hammer
quote:
Did you need to get an elivation certificate? If so where did you get it?
No I didn't need one.
Posted on 8/17/16 at 3:08 pm to NorthGwinnett LSU
quote:
Do understand that water has to rise, rushing water is not covered by flood insurance.
How do you have rushing water that does not rise? Are you referring to a pipe break situation?
Posted on 8/17/16 at 3:09 pm to JOJO Hammer
quote:
Did you need to get an elivation certificate? If so where did you get it?
We needed one, however, the previous homeowner had one that they gave us and since previous owner had flood insurance, we were able to use it.
Posted on 8/17/16 at 3:12 pm to LSUFanHouston
quote:You never "need" an elevation certificate. For example, if you are in flood zone x, you just apply for Flood Insurance and walk out with your $450 premium
We needed one, however, the previous homeowner had one that they gave us and since previous owner had flood insurance, we were able to use it.
Now, if you are in zone AE or other higher risk zones, without a certificate you will be paying a higher premium. If you can produce a certificate from an Engineer that you are actually above your flood zone according to the map, you will save a ton of money
Posted on 8/17/16 at 3:14 pm to lsupride87
quote:
You never "need" an elevation certificate.
incorrect.
Posted on 8/17/16 at 3:15 pm to LSUregit
Every company has the same rates for flood.
Posted on 8/17/16 at 3:16 pm to lsupride87
depends on date of construction. you go build home now in A zone, you have to have elevation cert to write a flood policy. Homes pre-firm can be rated using whatever predetermined rates.
Posted on 8/17/16 at 3:16 pm to LSUregit
Agent doesn't matter, they just sign you up. Everything is handled by the Feds.
Posted on 8/17/16 at 3:17 pm to Chad504boy
quote:I guess you can tell I have never owned a new home
ou go build home now in A zone, you have to have elevation cert to write a flood policy. Homes pre-firm can be rated using whatever predetermined rates.
Posted on 8/17/16 at 3:17 pm to lsupride87
quote:
I guess you can tell I have never owned a new home
yes...
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