Flood insurance

[flatwins]

Apparently FEMA redid their flood maps on April 17 so I got a letter from my mortgage company that said that I was now required to buy flood insurance and that if I didn't, they would buy it for me. Good times. I bought my place a year ago and am still getting used to the extra expense compared to where I was living. I suspect this will sting a bit.

Anyone else get a letter?

 

[smax]

Just make sure you get contents coverage because it isn't included on most flood insurance policies.

 

[flatwins]

Just make sure you get contents coverage because it isn't included on most flood insurance policies.

Yeah, I waiting to see what USAA says about all of that when they put the quote together. They are a good company to work with though not always the cheapest. I have my regular homeowners policy with them so they can hopefully just tack on the flood portion.

 

[travisstorma]

If you can find cheap flood insurance, let me know. I moved here a year ago from this past November and I'm paying $1,200 a year for flood insurance. That was the cheapest I could find.

 

[flatwins]

If you can find cheap flood insurance, let me know. I moved here a year ago from this past November and I'm paying $1,200 a year for flood insurance. That was the cheapest I could find.

I have this bad feeling that mine will run around that amount. We'll see. I'm in an area of BA that has flooded a few times but the county has done a lot of water-runoff work and I wasn't required to have it at the time I bought the house. I guess I got lucky for a year.

 

[Shriner]

How close are to a cheek or river ? two or three years back when FEMA and the COE redid flood maps ,lots of people(121 st & memorail) got letters saying they NEEDed flood insur . The only problem is the maps were based on a 1000 year flood and sand springs /downtown tulsa would have to been under about 40 feet of water to get to these people.

 

[tRidiot]

I added flood onto my policy, even though I'm not in a flood plain. Cost us around $300 a year. Not sure if it covers contents, although I would assume it would.

 

[flatwins]

How close are to a cheek or river ? two or three years back when FEMA and the COE redid flood maps ,lots of people(121 st & memorail) got letters saying they NEEDed flood insur . The only problem is the maps were based on a 1000 year flood and sand springs /downtown tulsa would have to been under about 40 feet of water to get to these people.

I have a creek around 150 yards from the back of the house so I figure they got me. The peace of mind will be nice but I foresee my house payment going up about $100 per month.

 

[Dale00]

The guiding principle here is avoid living in a floodplain.

Flood insurance is subsidized by your tax dollars and is an incentive for people to live in places where they should not. http://heartland.org/policy-documents/research-commentary-federal-flood-insurance-subsidies-puget-sound

 

[cjjtulsa]

My neighbors got one, too. There is a small creek behind their house, and the bank on their side is substantially higher than the one on the opposite side. Their house also sits on a bit of a rise, so it would have to be one hell of a lot of water to reach their house.