Flood Insurance

[JanetandCarol]

I just read that we should carry flood insurance. I bought in the Village of Duval and have all the necessary insurance that came with the sale. When I asked an agent, he suggested that I get flood insurance - $300. I checked with the person who is taking care of my house (Empty Nests) and he said that we don't need this coverage. He also checked with other people who live there and they do not carry flood insurance. Would it be a good idea to take this? Thanks for any suggestions. JanetandCarol

[JohnN]

good thread, I'm not there yet and don't know, but I'll watch this one,

I don't think there's a flood problem in TV , but .. let's hear what the residents say

[Sidney Lanier]

Our elevation in Belvedere is something like 80-90 feet above sea level; we were told that flood insurance is not necessary, so we don't have it, for what it's worth....

[billethkid]

If a home is not included in a local flood plan then there is no need to carry flood insurance. That is what insurance companies that insure homes in the coastal areas recommend.
And if not in the flood plan and the agent is trying to sell you flood insurance he/she needs to be reported to higher ups in the company as well as the appropriate local government.

BTK

[Peggy D]

Get a Certificate of Elevation. This will tell you if you need flood insurance. If you don't live within so many feet from a river or ocean that would put you in a flood zone, I doubt you need it.

[JanetandCarol]

Thanks for the suggestions. I just checked with friends who live in Chatham and they never got the insurance. So, I guess I will pocket the $$$ and go to Glenview for Surf and Turf. ( When I come back again) Still up here in chilly Western New York. JanetandCarol

[ssw]

http://www.fema.gov/business/nfip/

for information regarding flood insurance.

[The Great Fumar]

Save your money, Its a ripoff. The kind of rain it would take to flood your area has only been here once and it required an ARK....

If your not in a flood plain, you don't need flood insurance....
The villages is not in a flood plain......

dry as a bone fumar

[diskman]

Fumar,
i read here on TOTV recently that in orange blossom they buy flood insurance. Not so sure about your answer. it may need research

larry

[graciegirl]

Fumar,
i read here on TOTV recently that in orange blossom they buy flood insurance. Not so sure about your answer. it may need research

larry


Gosh. The only hill I remember in TV was in Orange Blossom. The restaurant where they do Karaoke sits on top of a decent hill. (For Florida).

[The Great Fumar]

Orange blossom side does not have the drainage system that we have over here and they do have several low lying areas......Would be worth checking if your contemplating buying over there.........
However if you buying on a hill , don't worry about it........

parched fumar

[JanetandCarol]

Hi Fumar, Thanks for the info. I just talked to the person who is watching my house,(Empty Nests) and he said that it has been very dry. Don't worry about flood insurance. BTW, I really like using Empty Nests and have a good relationship with the person who is assigned to my property in Duval. It is so reassuring to know that someone is taking care of my home until I finally come down for the winter. Yes, I will be a snowflake for a few years. I really love all of the info that comes from TOTV. It is so helpful and the more I read, the more that I am happy that we bought when we did. Thanks again, JanetandCarol

[RayB]

I have lived in Florida for twenty three years. (mostly in the Tampa area before moving to TV). I would never own a home in Florida without the very inexpensive federally underwritten flood insurance. Here is why: In the state of Florida the Insurance companies are allowed to sell you house insurance with a high deductable to cover hurricanes. You can pay extra to lower that hurricane deductable down to a reasonable level. Hurricane insurance usually does not insure you on water damage. If a hurricane strikes your house, the insurance company only insures you for wind damage caused by the Hurricane. Perhaps you may have heard about those poor people in Louisiana and Mississippi during the Katrina Hurricane which found themselves without insurance because the insurance companies informed them that the damage was caused by water and not the wind of the Hurricane. I understand litigation is still going on over this situation. I ask you, have you ever heard of a Hurricane which did not have water involved in the storm? Yet, that is what the insurance companies claim to avoid paying. Fortunately those who had both flood insurance and Hurricane damage insurance were covered for both water and wind damage. This may not be the case in other states but this is the way it is in Florida. I sometime think the insurance companies can do just about anything they want in Florida and the State Legislature will go along with it. That is why most people with experience in hurricanes in Florida will have Flood insurance regardless wheather they on in a flood plain or not. Since the flood insurance is underwritten by federal govt and only administered by the insurance companies, it is so cheap. It is foolish not to have it. I suspect the Insurance companies do not push flood insurance as there is not much profit in the sale of such an insurance policy and because it gives them an excuse not to pay on hurricane damage. They have lost a lot of money in Florida over the last ten years because they have paid out so much in hurricane damage. I sometimes think they will stop at nothing to prevent paying for hurricane damage. Please get flood insurance for your peace of mind. You won' regret it when the next threat of a hurricane is upon us here in The Villages.

[captain1202]

RB,
Not to steal the thread but you don't need to speculate on insurance company motives with respect to avoiding claims. The very large UNUM insurance has been under investigation and involved in extensive litigation for years regarding this. They actually have people figuring out how to screw people out of medical claims (and doing it). State Farm and Allstate were notorious for this after Katrina. The insurance companies care only about themselves, you can be sure of that!

[Fourpar]

:agree:
RayB is right on the money. I too an long time Florida - non flood zone- resident (and veteran of a number of hurricanes) and wouldn't dream of not having Flood insurance. Heck, for $350/Year it is a bargain.