Quote:
Originally Posted by English Ivy
If you wait a year to see if flooding is an issue before you purchase flood insurance it could be too late and you could have a problem.
There were several homes that had flood damage on Persimmon Loop in Duval last year. Unless they had flood insurance they were SOL.
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It may not be a flood zone, but yet, if there is a torrential rain like there was last summer when some villas flooded, the streets can fill up with water and overwhelm the street drains.....leaving nowhere for the water to go. And the street drains can get plugged with dirt, gravel, mulch and other landscaping that washes out into the street and the drains.
This is FEMA's defininition of a "flood", and the "rapid accumulation or runoff of surface waters from any source" is what is likely to happen here.
"What is a flood?
Flood insurance covers direct physical loss caused by “flood.” In simple terms, a flood is an excess of water on land that is normally dry. The official definition used by the National Flood Insurance Program is: “A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
- Overflow of inland or tidal waters;
- Unusual and rapid accumulation or runoff of surface waters from any source;
- Mudflow*; or
- Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.”
*Mudflow is defined as “A river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water...”
We have the insurance and it doesn't cost that much. It's only administered thru FEMA and so everyone has the same coverage....percentage of building and contents. Specific companies sell and service it for FEMA. This is a link to the coverage booklet:
http://www.fema.gov/library/file;jse...a-001cc4568fb6
TV Insurance Agency and AAA sell it for FEMA.