Quote:
Originally Posted by JourneyOfLife
I have read about some big increase in premium that seemed extremely high.
I was wondering of those news stories were just sensationalizing the cost increases by cherry picking a few houses that may not be typical.
Anybody have any insight into how premiums have increased in florida around the coastal areas?
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Flood Ins rates are based on two things...
1. What flood zone you are located in. There are many different zones but the high hazard zones are the most expensive.
2. How high your house is located above or below the BFE (base flood elevation). If you are below the BFE you will be paying a lot more.
New homes must comply with all the flood standards.