Flood Insurance

If you have flood insurance, would you mind sharing how much you pay per year and what it covers.
I'm a little confused on this.

Thanks!

Re: Flood Insurance

Maybe i can help.

Are you in a flood zone?
If so...rates normally can be between $1000 and up.
Unfortunately the rates went up this year.

If not in flood zone, you become a preferred rate, normally $300-$500/yr.


Its through FEMA and most companies offer Flood and all rates should be the same.

Fm in you have questions.

Re: Flood Insurance

We recently purchased at the preferred rate (outside the flood zone). FEMA is revising the flood zone maps in some areas and if you're outside the zone now, but end up inside the zone later, your current (lower) rates will be grandfathered into the new zone.

It doesn't cover much below ground level other than what is normally in a basement, ie: furnace, water heater and structural elements. I'm not sure if Washer and Dryer were covered, but any personal items, furniture or improvements such as paneling, flooring, carpeting etc. are NOT covered if it's below ground level. You also need to have a certain amount of the surrounding areas flooded too - it's not to cover just a single home flooding, it's set up to cover flooding across a wider area.

Re: Flood Insurance

we're in a flood zone and pay $1,800 a year.

However, when we bought the house we were not aware we were in a flood zone