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Flood Insurance
Old 08-29-2016, 10:29 AM   #1
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Flood Insurance

Given what happened down in Baton Rouge (as well as other areas), I am starting to wonder whether it would be wise to get flood insurance coverage, although I am not in a high risk area for flooding. Any how, I suspect if you get 10-20 inches of rain in a short period of time, there will be flooding regardless of where you live. Called my insurance company and they wanted $450 year for $250K dwelling coverage (that would only partially cover homes value) and $100K contents coverage. Deductible would be $1250.

I have not checked on Government insurance, so not sure how that stacks up rate wise and benefit wise. Anyone else contemplating getting coverage or already have protection in place?
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Old 08-29-2016, 10:33 AM   #2
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There was a recent short discussion here you might find useful. Flood Insurance? Earthquake Insurance?
Do you know what the risk rating is for your area? I believe rates and coverage are regulated.
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Old 08-29-2016, 10:44 AM   #3
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Being in Florida and adjacent to (but not in) a Flood Zone,. I purchased it.
Insurance = Peace of Mind

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Old 08-29-2016, 11:16 AM   #4
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Quote:
Originally Posted by MichaelB View Post
There was a recent short discussion here you might find useful. Flood Insurance? Earthquake Insurance?
Do you know what the risk rating is for your area? I believe rates and coverage are regulated.
My zone is rated X, whatever that means. The agent told me, everyone pays the same rate in such a zone which I believe in not a high risk area.

I don't know how I missed that other thread, must be a case of ADD.
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Old 08-29-2016, 11:26 AM   #5
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Originally Posted by DFW_M5 View Post
My zone is rated X, whatever that means. The agent told me, everyone pays the same rate in such a zone which I believe in not a high risk area.

I don't know how I missed that other thread, must be a case of ADD.
X means less than 0.2% annual probability of flooding. That's why your premium is so low. We live in an X zone, but just a few feet away from the X500, which means up to 1% probability. You might want to look at a flood map of your area to see how close the higher risk areas are.
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Old 08-29-2016, 11:39 AM   #6
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Thanks Michael, I will check it out.

Edit, we are near an AE zone which believe has a 1% chance.
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