Flood & Homeowners Insurance?

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  #1  
Old 02-26-2015, 10:39 AM
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jrdonn jrdonn is offline
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Default Flood & Homeowners Insurance?

Is there a need for flood insurance in the Village of Hillsborough? And who do you have for your Homeowners insurance? I would like to do some comparison shopping, I took the Villages insurance during closing.
Thank you in advance for your opinions.
  #2  
Old 02-26-2015, 10:43 AM
Villageswimmer Villageswimmer is offline
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Call your insurance agent. They should have flood maps that will aid in your decision.
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Old 02-26-2015, 10:57 AM
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That is a good question.... I sometimes wonder if I need flood insurance or not. I am NOT located in a flood plane, so conventional wisdoms, says, I don't need it or am not required [by mortgage co.] to have it.

However, I have been here through a couple of the huge summer downpours, where we receive several inches of rain in a short time. All of our storm water goes to the retention ponds, thoughtout The Villages. After these downpours, I have seen the ponds very full. I'm wondering what would happen if storm water were not able to drain into the ponds or if the water backs up into the streets and eventually into our homes. I recognize this would take a lot of rain, but I'm thinking a tropical system, lasting more than a day with several of inches of rain per day might overwhelm the drainage system.

In this scenario, your homeowners insurance would not cover any damage from water coming into your home and you'd be out of pocket for any damages.

Have others consider this possibility or am I just being paranoid ??
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Old 02-26-2015, 10:57 AM
joldnol joldnol is offline
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unless you are in a flood plane it is only 200 to 300 dollars. All it takes is one hurricane, which if one is heading towards us, it's to late since there is a 30 day period before coverage goes into affect. It was worth the peace of mind to me.
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Old 02-26-2015, 10:59 AM
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not paranoid memason just prudent
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Old 02-26-2015, 11:14 AM
Laurie2 Laurie2 is offline
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Quote:
Originally Posted by memason View Post
That is a good question.... I sometimes wonder if I need flood insurance or not. I am NOT located in a flood plane, so conventional wisdoms, says, I don't need it or am not required [by mortgage co.] to have it.

However, I have been here through a couple of the huge summer downpours, where we receive several inches of rain in a short time. All of our storm water goes to the retention ponds, thoughtout The Villages. After these downpours, I have seen the ponds very full. I'm wondering what would happen if storm water were not able to drain into the ponds or if the water backs up into the streets and eventually into our homes. I recognize this would take a lot of rain, but I'm thinking a tropical system, lasting more than a day with several of inches of rain per day might overwhelm the drainage system.

In this scenario, your homeowners insurance would not cover any damage from water coming into your home and you'd be out of pocket for any damages.

Have others consider this possibility or am I just being paranoid ??
Hi memason,

We have it. We are not paranoid.

And I think you just answered your own question.

Geology is the only science I ever truly loved. Your scenario is my scenario. -- etc.

Flood insurance is in the cost-of-sleep category for me.
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Old 02-26-2015, 11:24 AM
Villageswimmer Villageswimmer is offline
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Originally Posted by naneiben View Post
Call your insurance agent. They should have flood maps that will aid in your decision.

As a former hydrologist/flood forecaster, I feel I need to qualify my remarks above.

IF flood maps have been extrapolated for your newly developed area, they are likely of dubious quality because of the extensive infrastructure development here (which is still in progress). There is no history.

So, no one can tell you whether or not to purchase flood insurance with any degree of certainty.

As others have said, if you'll sleep better because you have it, buy it.
  #8  
Old 02-26-2015, 11:35 AM
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Quote:
Originally Posted by jrdonn View Post
Is there a need for flood insurance in the Village of Hillsborough? And who do you have for your Homeowners insurance? I would like to do some comparison shopping, I took the Villages insurance during closing.
Thank you in advance for your opinions.

Make sure you can get sinkhole insurance if you switch insurance companies. The damage caused by a sinkhole would be much higher than water damage around here.
  #9  
Old 02-26-2015, 11:49 AM
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TNLAKEPANDA TNLAKEPANDA is offline
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I was in the Flood Insurance Claims business since 1991. If you need accurate info on flood insurance send me a PM with your phone or email address. I know more about the flood policy than any agent. They just sell the policy. I was the person who handled your claim and told you that the agent was wrong when they told you that was covered!
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Old 02-26-2015, 12:26 PM
Villageswimmer Villageswimmer is offline
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Quote:
Originally Posted by TNLAKEPANDA View Post
I was in the Flood Insurance Claims business since 1991. If you need accurate info on flood insurance send me a PM with your phone or email address. I know more about the flood policy than any agent. They just sell the policy. I was the person who handled your claim and told you that the agent was wrong when they told you that was covered!

Aren't the resources available on TOTV amazing? sounds like you have some very helpful info.

Before you're deluged (excuse the pun) with pms, why not post the info, or a link to it, so we all have access without a lot of work on your part? This would be of interest to everyone in TV. Thanks!
  #11  
Old 02-26-2015, 03:18 PM
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...
  #12  
Old 02-26-2015, 03:56 PM
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Quote:
Originally Posted by joldnol View Post
unless you are in a flood plane it is only 200 to 300 dollars. All it takes is one hurricane, which if one is heading towards us, it's to late since there is a 30 day period before coverage goes into affect. It was worth the peace of mind to me.
If I'm not mistaken, flood insurance is separate and distinct from hurricane insurance, which is usually a part of your homeowners policy.
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Old 02-26-2015, 03:59 PM
joldnol joldnol is offline
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Quote:
Originally Posted by Chazz View Post
If I'm not mistaken, flood insurance is separate and distinct from hurricane insurance, which is usually a part of your homeowners policy.
flooding caused by hurricanes is not covered by your homeowners policy.
  #14  
Old 02-26-2015, 04:23 PM
Bizdoc Bizdoc is offline
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We have it. The only time that we have not had flood insurance was while living on a mountain ridge 1400 feet above sea level. A flood at that point would have been more of the "Noah, this is the Lord..." variety.

Sumter Co's gis has the updated ( roughly 2 years ago) flood maps. you can look at them and be surprised at where they calculate there is a risk of 100 year flooding.
  #15  
Old 02-26-2015, 05:42 PM
tuccillo tuccillo is offline
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IIRC, for flood insurance to kick in you need rising water and something like 2 out of 3 neighbors must have also had flooding (or something like that) - the insurance guy who posted earlier, please help us out here!

Quote:
Originally Posted by joldnol View Post
flooding caused by hurricanes is not covered by your homeowners policy.
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