I am not sure which Village you are in but the short answer is probably "no". However, you should do whatever lets you sleep at night.
The entire US is in a "flood plain". There are different letter names for the plains and essentially reflect the probabilities of experiencing a flood over a certain time period (100 years if I recall correctly). Some areas of the US have such a low probability that it probably doesn't make much sense to buy the insurance. For other areas you would be foolish not to buy the insurance.
There is some small print in the policies that is worth reading. For example, a "flood" is due to rising water and there is some language about some number of adjacent properties must also experience rising water (in other words, not an isolated occurrence). Flood insurance is for the structure and the contents must be insured via another policy. There is also a dollar limit on the coverage.
For the majority of The Villages, there appears to be effective management of the rainfall to catch basins and then to retention ponds. I have not heard of anyone experiencing "rising water" flooding.
Quote:
Originally Posted by sunsetgirl
My husband and I are new residents to the Villages. We are curious as to whether we should have a flood insurance policy in addition to our normal home owners policy. What do most residence have?
|