What to Find on Florida Flood Insurance
Here is what you will find on a typical Florida flood insurance policy.
First thing you should be looking for is every time FEMA changes its maps in the state of Florida, it could end up directly costing you money.
If you are a home owner and you have never been considered in a flood zone, you better think again.
I deal with angry clients everyday who tell me they have been living in their house for 20 years and never had a flood and have never been considered in that type of a zone.
Now they are.
Another thing you will find on a flood policy is that everybody in the state of Florida is in flood zone X.
What this means is that you are in the lowest probable area of ever getting flooded according to the 100 year flood map.
If you live on the coast, or next to a large body of water you could be in the worst zone there is called flood zone A.
On all flood policies you will find that if you live in zone X it is not mandatory that you buy flood insurance, but if you live in zone A, your mortgage company will make it mandatory that you buy flood insurance.
If you do not buy the flood insurance they will force place flood insurance on you and make it part of your mortgage payment every month.
The difference in price is $100,000 worth of flood insurance in zone X, cost approximately $257.
00 a year.
The same policy in zone A will cost you between $800.
00 and $3,000.
00 per year.
Why the big difference in price, it has to do with the proximate of your house and the water.
Something you could do to prevent this from happening to you.
If you are in a zone X now, and you have a flood policy active.
If the state of Florida changes the flood maps and puts you in zone A, then you are grandfathered in at the zone X price for as long as you own that house.
First thing you should be looking for is every time FEMA changes its maps in the state of Florida, it could end up directly costing you money.
If you are a home owner and you have never been considered in a flood zone, you better think again.
I deal with angry clients everyday who tell me they have been living in their house for 20 years and never had a flood and have never been considered in that type of a zone.
Now they are.
Another thing you will find on a flood policy is that everybody in the state of Florida is in flood zone X.
What this means is that you are in the lowest probable area of ever getting flooded according to the 100 year flood map.
If you live on the coast, or next to a large body of water you could be in the worst zone there is called flood zone A.
On all flood policies you will find that if you live in zone X it is not mandatory that you buy flood insurance, but if you live in zone A, your mortgage company will make it mandatory that you buy flood insurance.
If you do not buy the flood insurance they will force place flood insurance on you and make it part of your mortgage payment every month.
The difference in price is $100,000 worth of flood insurance in zone X, cost approximately $257.
00 a year.
The same policy in zone A will cost you between $800.
00 and $3,000.
00 per year.
Why the big difference in price, it has to do with the proximate of your house and the water.
Something you could do to prevent this from happening to you.
If you are in a zone X now, and you have a flood policy active.
If the state of Florida changes the flood maps and puts you in zone A, then you are grandfathered in at the zone X price for as long as you own that house.
