Insurance question (flood)

[Bartdog]

Just bought a house and moved to Palm Coast. The biggest obstacle was (drum roll) insurance. I'm sure no one was surprised that I had to get lubed up real good first.

The worst part was the quotes we were getting for flood insurance. From my current agent (AAA) they quoted a number for flood that was over DOUBLE THE AMOUNT of the homeowners insurance... $8,000. No kidding. Other quotes were much less, but still in the thousands.

The sellers had a policy that was <$800 per year and we wound up being able to take over their policy. To do this, however, we had to go through their agent ( of their HO policy). When our current AAA agent tried to contact, they were turned away. We went with this guy for HO as well as flood.

Seems VERY sketch to me, especially since the seller (a realtor btw) was the one who got with him prior to our signing. His quote for HO insurance wasn't terrible, but it wasn't the best. The thing is I HAD to use him because he was like the "gateway" to the flood insurance. Am I being paranoid?

 

[NoleFan2U]

This is probably a stupid question, and I don't live in a flood zone but....

I thought you could get flood insurance on the government website? Or has that been long gone?

 

[GeddyLee09]

Check out this site where you can look up the rules and providers in the state.

Flood Insurance

The National Flood Insurance Program (NFIP) is managed by the FEMA and is delivered to the public by a network of more than 50 insurance companies and the NFIP Direct.

www.fema.gov

I had to read up on flood insurance a few years ago as I moved to a house where it was required. I know you can transfer a policy according to the FEMA rules. See below. I also know from the process that rates while supposedly backed by FEMA who sets rates vary wildly so do your research. If you can use USAA go with them.

The Flood Policy Assumption Process - National Flood Insurance

nationalfloodinsurance.org

 

[littleitch1]

What flood zone are you in?

It would be on your survey

My daughter and sil bought a house in se pompano, on an ocean access canal and they were in one of the weakest flood zones fema has
My old house in nw ft laud had a way more severe flood zone rating
Go figure


Are you on the water, lots of lakes around you?

So you got HO, we’re you able to get windstorm?

How old is roof?

 

[GeddyLee09]

This is probably a stupid question, and I don't live in a flood zone but....

I thought you could get flood insurance on the government website? Or has that been long gone?

You have to buy through the insurance companies but the rates and zones are set up my FEMA. At least thats how I understand it.

 

[Bartdog]

the first quote for flood insurance (zone AE) that I got was literally $8,000. The homeowners' insurance was about 3500.

 

[littleitch1]

Zone AE, that’s a tough one!!

 

[littleitch1]

You must be right on a river!