topic Re: Flood Insurance in Home

Flood Insurance

kivah — Sun, 25 Oct 2015 22:09:30 GMT

I live in southern California - not far from the ocean - but not in a flood zone. We're expecting major flooding from El Nino in the next year and wonder if I should buy Flood Insurance, which costs approx. $500. and is highly recommended by the media.

Have u ever experienced major flooding - and did u have flood insurance. I think I'll call my insurance agent tomorrow.

Re: Flood Insurance

Mama Mia — Sun, 25 Oct 2015 22:44:10 GMT

We live in Idaho in a no flood zone, about three years ago, maybe two, our town had a deluge that made the national news. At the university the apartments on the lower flors were flooded out, and of course, the guys used whatever to surf. down all the stairs outside. It was hilarious then, but bad later.

Much damage there and the other side of town. In our subdivision the wated flooded the intersection and it came up nearly to the houses. That was enough for us and we were at our insurance agents the next day. They will do all the work for you, at least ours did. Every thing is checked out thoroughly before going to FEMA. Ours was a little over five hundred, depends on what amount you selected for inside etc. I seriously doubt it will ever happen again, but won't take the chance.

You can look into it.

Re: Flood Insurance

sunshine45 — Sun, 25 Oct 2015 22:56:12 GMT

we had a flood quite a while ago and it did some damage, but at that time we did not have flood insurance. after that, we did finally get a policy. we had another flood about a year and a half ago and did file a claim. it was a relief that we had it, but it did not cover as much as we had hoped it would......it was better than having nothing though. we would not be without it now.

i think our payment is around $450 a year.

Re: Flood Insurance

Zhills — Sun, 25 Oct 2015 23:02:18 GMT

Any zone becomes a flood zone when you suddenly get 30 inches of rain!

Re: Flood Insurance

Kachina624 — Sun, 25 Oct 2015 23:08:12 GMT

Seriously, do you really think your insurance agent is going to be able to tell you if your home will flood? That's a decision only you can make. If there's any possibility, I'd take the insurance for my peace of mind.

Re: Flood Insurance

sissel — Sun, 25 Oct 2015 23:08:50 GMT

Some of my friends have summer homes near NJ shore, they said you can't buy a house without flood insurance. They are inland ,not a few blocks from the ocean but guess it's a law in that area. They never had a flood but you never know when you may need it.

Re: Flood Insurance

ValuSkr — Sun, 25 Oct 2015 23:13:37 GMT

I thought you had to live in a designated flood zone in order to get Federally-subsidized flood insurance. At any rate, please do get the insurance. $500 isn't much for what you get, and I'd rather you be insured than depend on taxpayers if disaster strikes. Thank you.

Re: Flood Insurance

Annabellethecat66 — Sun, 25 Oct 2015 23:16:51 GMT

There are a lot of people here who probably know more than I do about insurance. I have insurance agents who keep an eye on my company's insurance and my personal insurance.

About 15 years ago we had lightning hit our house and we couldn't live in it for 5 full months. We have wonderful insurance so they paid for us to live in a hotel that entire time, all of our furniture, etc. We had to eat out every meal and they paid for it (it does get old).

The reason I'm telling this is because we found out that it's important that your insurance says "SAME AS" rather than "LIKE". Since our's said same as, we lived as if we were in our house. The agent said many insurance companies do not provide the same services.

Also, I own developments down in Florida. We've been hit a few times with hurricanes (near Pensacola). I have a business partner that handles all of this (thank goodness) but I learned from her that they break down (insurance does) where the flood water came into the house (water line) and the wind, etc. It's a real pain in the neck.

Insurance is nothing to go on the cheap end to get. Also my agent said some insurance companies will only pay for flood if it is attached or in the house and even then some don't pay like if the washer overflows and ruins the rugs and furniture.

Just be careful when you get insurance. This is totally different but it is about insurance. Most people don't think they have much but if you were to sit down and think about what everything is worth (your house, cars, etc) you'd get a shock.

Everyone in our family has catastrophe insurance (we always called it an umbrella policy). In this world today people will sue you for just about anything. If they win they can make you sell your house (whatever it takes to give them the money awarded them).

Just check into it. It is only a few hundred dollars a year and money well spent.

I'm sorry to stick my nose in but I've had good dealings with insurance only because my agents are smart and earn their money. Otherwise, well I don't like to think about it.

One reason I live in Va is because we don't have a lot of bad things (weather-wise) happen here.

Re: Flood Insurance

kivah — Sun, 25 Oct 2015 23:20:54 GMT

My neighbor Louise uses my insurance agent (I recommended him to her) and she purchased Flood Insurance for the first time - because of El Nino. We have the same model house and is paying $500/year. Seeing the flooding all over the world makes me a little nervous. I'll email my agent now. Thx

Re: Flood Insurance

tedEbear — Mon, 26 Oct 2015 00:28:47 GMT

@kivah---------Don't know how long you have lived in So.Cal, but back in the late 90's, Watts experienced a snowstorm and then flooding with water as high as 36 inches. Being in a drought can cause major flooding, because the water cannot be absorbed as fast as it used to when CA was a lush land.---------Insurance is a good idea...........................tedEbear

Re: Flood Insurance

StylishLady — Mon, 26 Oct 2015 01:48:49 GMT

Have it here in southwest Florida, even though it is not required. At around $400 a year, it is peace of mind. We are 8 feet above sea level. A storm with a 10 foot surge would put a lot of water inside our home.

Re: Flood Insurance

patbz — Mon, 26 Oct 2015 01:54:43 GMT

Get flood insurance; life doesn't come with guarantees. When we lived in the Mojave we used it 3 times in 5 years. Once when a pipe broke in a rental we owned, once when the temperature dropped unusually low and burst pipes in our ceiling ( that included a 6 week stay in a hotel ) and once when the RV park where our trailer was parked flood and the water was shoulder height ( we thought our trailer had been pulled safely to storage-- no one called us and we discovered a very moldy trailer 2 weeks later). Our insurer is USAA and with their help I can say "flood is my friend". We had the trailer totalled and bought a newer one and we bought a new home after the flooded house-- never even moved back into the old house.

Re: Flood Insurance

151949 — Mon, 26 Oct 2015 02:26:21 GMT

I live 1 1/2 miles from the Gulf of Mexico in SW Florida on the shore of a large lake. (knocking on wood as i type this) our town has not been hit by a hurricane for 46 years.That helps our storm ins. prices a lot but we have to have wind (we got that from the state of Florida)storm surge and flood (we got from FEMA). The wind and storm surge are only effective if it is a named storm that causes the damage, otherwise any water damage would go under flood.We went to AAA to get our insurance, and our agent assures us we are fully covered at replacement value. And, yes, the insurance is VERY expensive. However, how long can that 46 year streak hold out?

Re: Flood Insurance

151949 — Mon, 26 Oct 2015 02:28:01 GMT

We were told flood ins. does not cover you for storm surge - you have to get storm surge insurance for that.

Re: Flood Insurance

Bellabutterfly — Mon, 26 Oct 2015 03:58:59 GMT

I too live in California...I think the insurance companies are trying to cash in on "El Nino". They are trying to take full advantage of this and of course "Cash In". We received a letter from our insurance company on this exact subject three days ago. We also received -2- tela marketing calls regarding flood insurance in the last 2 weeks.

We don't live in a flood zone...The last El Nino that hit California years ago was really really bad and we did not have any water problems then.

Yes, things can happen...But be smart and informed.

I would advise you to research the area were you are now living. Find out if that area ever flooded? If it did what year did it flood...100 years ago? Or more recent...20 years?

Research...That is your answer.

Re: Flood Insurance

Desertdi — Mon, 26 Oct 2015 13:25:44 GMT

FEMA determines flood zones. I doubt a telemarketer knows whether you live in one. If you live in a flood zone and have a mortgage, you MUST buy flood insurance.

Re: Flood Insurance

ChynnaBlue — Mon, 26 Oct 2015 15:00:39 GMT

@kivah wrote:
I live in southern California - not far from the ocean - but not in a flood zone. We're expecting major flooding from El Nino in the next year and wonder if I should buy Flood Insurance, which costs approx. $500. and is highly recommended by the media.
Have u ever experienced major flooding - and did u have flood insurance. I think I'll call my insurance agent tomorrow.

No, but I used to work for a company that made the determinations about which homes were in flood zone and was a certified floodplain manager for several years. I can tell you that the flood zone maps are not updated very often and new construction changes floodplains as more and more nonpermeable surfaces are laid down to create roads, parking lots, new homes, office, shopping centers, etc. In large storms, such as Tropical Storm Allison, many structures that have NOT been identified as being in a floodplain will flood. In Tropical Storm Allison the number was as high as 70%. Old maps plus new construction = poor information. And if you're in an area with levees protecting you, it can be much worse. Failed levees are what did New Orleans in after Katrina hit and the Sacramento area has also had trouble with flooding after levees broke.( Politicians go on and about a lot of things, but what we should be asking is who has a good plan to renew out infrastructure. When have you ever heard a candidate talk about that? Start asking!)

I would definitely talk to an insurance agent and learn about what flood insurance covers and how much damage a home must have before the insurance pays out. Personally, after my own experience in the industry, I would probably get the insurance even if I lived in a low-risk area. $500 a year isn't much compared to the cost of repairing flood damage. I'd do my own analysis first, but that's not something most people would be able to do. Since you can't do that, you might consider contacting your local city or county offices and ask to speak to the local floodplain manager and get his or her opinion. I'd Google your city or county name and the words floodplain management. Here's what I came up with for Los Angeles County, for example: http://eng.lacity.org/projects/fmp/

You can read more about the National Flood Insurance Program (NFIP) here: https://www.floodsmart.gov/floodsmart/pages/residential_coverage/homeowner.jsp

Re: Flood Insurance

January121 — Mon, 26 Oct 2015 16:12:15 GMT

I own an oceanfront summer home on the NJ shore .... I have had flood insurance since I built the home in 1999 .... the flood insurance started out at about $900 and has crept up over the years to the current amount of $1500 .... I never had any reason to use it until Hurricane Sandy hit the NJ shore ....even though the house is elevated the lower level which is an enclosed 2 car garage & laundry room, heater & hot water systems etc., took a really bad hit from the storm .... everything got destroyed & I had to hire a builder to reconstruct the lower level and replace everything which was extremely expensive .... flood insurance only paid $43,000 towards the repairs which was a small drop in the bucket compared to the price of the repairs .... I truly believe that because Hurricane Sandy did so much damage to homes in 3 states that the flood insurance money was spread out and people got a lot less than they should have ... I don't know if flood insurance is worth the price I pay each year compared to what it pays when a claim is submitted but, after Hurricane Sandy hit I am afraid to cancel it.

Re: Flood Insurance

Hooty — Mon, 26 Oct 2015 17:13:19 GMT

We've only had flood insurance a couple of years now, but sure am glad we decided to get it, we have ours through USAA, but it is issued through FEMA!

We live on a hill, but our backyard slopes and if you get a lot of rain at one time so hard the ground cannot absorb it, then you can get flooded, and that almost happened one day! I'd rather be safe than sorry any day of the week .......... just saying!!!

Re: Flood Insurance

Mominohio — Mon, 26 Oct 2015 18:21:37 GMT

@Kachina624 wrote:
Seriously, do you really think your insurance agent is going to be able to tell you if your home will flood? That's a decision only you can make. If there's any possibility, I'd take the insurance for my peace of mind.

I really don't understand the contentious nature of many of your responses to people who are making simple inquires.

Nowhere did I read or somehow extrapolate from the OP that she was requesting an insurance agent to tell her if her house/property would flood.

What she did was inquire about anyone's experience with flooding, particularly with having flood insurance in effect at that time. And she stated that she would be contacting her agent about getting insurance.

It is really unnecessary to berate someone for asking for input about things they think others may have experience and advice about.