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Old 09-16-2022, 03:49 PM   #41
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A true survey of your property, relative to anticipated water levels may be a good investment. Flood zone maps are pretty decent, but are not produced to look closely at each individual home, but more the entire area. I dont think an elevation survey would cost much, possibly a couple of thousand dollars with all the exhibits that would be needed, maybe much less, even under $1000. Depends on the lot and the conditions.
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Old 09-16-2022, 03:54 PM   #42
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Originally Posted by OldShooter View Post
This. Our back yard is the Mississippi river but we're on a bank about 15 feet above the highest water we have seen. No thought to buy insurance.
How long have you lived there. Do you know the 100 year and 500 year flood heights? 15 feet is actually not very much. We lived in a house that required flood insurance and now we live on high ground.
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Flood insurance
Old 09-16-2022, 03:54 PM   #43
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Flood insurance

When I bought my home, I did buy flood insurance for the first year. Even after severe weather, the French drains I had installed took care of any run off that could have resulted in flooding. Since I live in a low risk area with no rivets or streams, I dropped the flood insurance.
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Old 09-16-2022, 04:01 PM   #44
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We're in an X but the house two doors away (about 150' away) and the rest of the street going that direction are in A. They have a very large open storm drainage ditch behind their homes, like 15' deep and 30' wide at the top. It drains at the far end of the street.

We have a 7' diameter underground storm sewer pipe off the backyard that dumps into that ditch. During and after a heavy rain that 7' pipe is filled to within 6" of the top as it pours into that ditch.

The City did a really poor job with respect to approving new subdivisions and that massive amount of water comes from another subdivision about 1/2 mile away.

Here's the rub. The last house on our street is in an A. The next house to the west is about 200' away across the cross street but is not in a flood plain even though that storm ditch drains in their direction. Why? Because they're in a township and we're in a city. The EPA did not evaluate townships when they created the flood maps, even though water runs downhill.

Our home was initially put in an A, literally 20 years after we bought it. As we appealed it, we learned that the EPA flew over the area in a plane and essentially said "Yup, looks like it'll flood."

After we appealed with an engineering study, the EPA accepted that our home and others were not in a flood plain due to that underground pipe.

Can we still flood? Sure, but we are not required to have flood insurance by the mortgage lender. That was $1,500 a year back in 2010. When we sell it's to our advantage to not be in a flood plain.

The closest large body of water is Lake Erie about 30 miles away. We're 500' higher than Lake Erie.

As my dad so wisely told me "Always buy a house on a hill."

No, we do not carry flood insurance. Flood insurance does not cover anything in a basement. That's our biggest risk due to topology but even then it's small because it's downhill from here.
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Old 09-16-2022, 05:33 PM   #45
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We are nowhere near a FEMA flood zone, other than tributaries of the LA River, and those are mostly paved in concrete. Drainage is no problem.

We do carry earthquake insurance for around $600/year. We remember January 17, 1994 @ 4:31AM too well.
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Would you buy flood insurance for a home in a low risk area?
Old 09-16-2022, 07:11 PM   #46
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Would you buy flood insurance for a home in a low risk area?

Quote:
Originally Posted by RetMD21 View Post
The FEMA flood insurance program has a large deficit mostly due to underpricing insurance for some high risk areas. They are raising those rates so I was thinking that insurance for low risk areas might become more affordable.



The local independent agent wouldn't give me a quote for flood insurance only so I contacted Farmers/Foremost from the list. https://www.floodsmart.gov/flood-insurance-provider



My "total premium" with surcharges and fees was $625 for 250k building coverage and 100k contents for zone X minimal risk. Raising the deductible to 10k, the maximum, saves only $30. The 250/100 limits are the maximum and wouldn't cover my cost to rebuild.



This seems like a lot to pay for partial coverage in a "minimal risk" zone. Am I making a mistake?


Without knowing any of the specifics of where your home is located I would make the following observation: the simple fact that you looked into flood insurance suggests it is not out of the realm of possibility to your mind.

That suggests you should purchase Flood Insurance.
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Old 09-16-2022, 09:50 PM   #47
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If you don't and a flood happens. Don't sue your agent.
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Old 09-17-2022, 05:51 AM   #48
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Without knowing any of the specifics of where your home is located I would make the following observation: the simple fact that you looked into flood insurance suggests it is not out of the realm of possibility to your mind.

That suggests you should purchase Flood Insurance.
Not until I get my asteroid insurance
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Old 09-17-2022, 06:26 AM   #49
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You need to look at the area topography and particularly down stream. We are+/- 15’ above the river but the entire town downstream is 5’. Water would have to really inundate a huge area before it could reach our house. In a 100 years there is no record of it. Sure I might not be able to reach my home in a flooding situation but it will stay dry. So while the zone has a flooding risk our property really doesn’t
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Old 09-17-2022, 02:54 PM   #50
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If you don't and a flood happens. Don't sue your agent.
reminds me of:

https://www.hollywood.com/celebritie...crash-57359929
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Old 09-17-2022, 08:48 PM   #51
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My dad lost hundreds of thousands when the city said his apartment building wasn't in a flood zone any more, then a few years later a 100 year storm flooded it about 2 felt deep throughout.
+1. As a geologist, I look at flood risk to include 100-year floods, 500-year floods, and 1,000-year floods. Do you feel lucky?

In San Diego, Mission Valley and Fashion Valley will one day suffer a major flood that the USACE's emergency pumps won't be able to handle. My geology professor was predicting this circa 1990, and it hasn't happened yet, but it's only a matter of time!
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Old 09-18-2022, 01:04 PM   #52
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No, Lake Woodlands drains pretty good to the south. Trace creek has been a small problem for one neighborhood. But the newer areas of the Woodlands along Kukendahl (sp?) in Harris County have had a couple of homes take water. It seems like the areas on the south side of this area are on the edge of the water, but this only has happened during the Harvey event.

We live on the north side along highway 242 and we are pretty high up.


Has 3 inches post Hurricane Kitrina. Flood insurance claim reimbursement exceeded $90,000
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Old 09-19-2022, 09:34 AM   #53
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It does not help that flood maps badly mis-represent flood risk. FEMA is worse than TSA for data quality. Biggest risks are from high peaks in flow from faster runoff from paved areas upstream. Less of a climate issue than a drainage and flow issue. Pave everything and downstream peaks order of magnitude higher and faster.

I never bothered with flood insurance, but I was meticulous about where I rented and bought, having flood victims in 4 generations of my family.

Could keep an elevated installed gen set and sump pumps, spend on prevention instead of just insuring and hoping.
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Old 09-19-2022, 06:19 PM   #54
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Mine just went up $93/ yr but for just $25 more.... You can get 20k more coverage.

I'm sure most will take the upgrade ande say it's worth the extra 125 a YR.

I'm not thrilled with this. I'll probably hunt for new options.
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Old 09-20-2022, 01:56 AM   #55
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The reason we have flood insurance is so that it doesn't matter the cause - we're insured regardless. Rising, falling, hurricane, whatever. It's just a matter of the Flood Insurance and Home Owners figuring out who gets what. I'm in S. Fla, and in a flood zone so it's a no brainer for me.
Yes, smart!
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Old 09-20-2022, 02:04 AM   #56
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+1. As a geologist, I look at flood risk to include 100-year floods, 500-year floods, and 1,000-year floods. Do you feel lucky?

In San Diego, Mission Valley and Fashion Valley will one day suffer a major flood that the USACE's emergency pumps won't be able to handle. My geology professor was predicting this circa 1990, and it hasn't happened yet, but it's only a matter of time!
I live on the slopes of an active volcano, Mauna Loa. The last eruption was in the 1980s. But insurance companies are clueless in pricing risk for volcanic eruption. I am insured if my house burns down even if it is because lava takes it over. (Although it has to start on fire before the lava hits it but the insurance company has the burden of contraproof and physics is my friend!

Geologists are scientists and I trust their predictions. Insurance companies rarely understand these predictions and base their rates on history not science.
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Old 09-20-2022, 06:01 AM   #57
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We have a second home at the NJ shore 1 block from the ocean. No mortgage but I carry flood insurance. We previously had two types of coverage: first through the government program up to $250,000 and then excess flood to cover a loss above that amount.

Now we have a single policy through a highly rated private carrier that covers about 50% of the cost of construction to replace the home. Remember the value of the land should be excluded from your decision to determine coverage. We have made the decision to cover 50% of the cost of the improvement because we believe it is unlikely that we will suffer a total loss. We already lived through the eye of Hurricane Sandy in 2013 and suffered only minor damage. The amount of coverage must be balanced with the cost of the insurance. Like minds can differ.
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Old 09-22-2022, 05:23 PM   #58
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We cancelled our flood insurance as soon as we paid off the mortgage. We live in a stilt house and it would only pay out if the water reached our living area. I suggest you do a thorough investigation of the policy and what is actually covered.
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