Look, my FL “FEMA flood zone” property is at 42’ elevation and 16 miles from the coast. It sits 3’ above the high-water mark of an adjacent swamp. For the water to reach my house it would need to be standing 2’ over the roads, fields and orchards, all the way out to the sea and that just ain’t never gonna happen.
Our ground is porous limestone which makes all of FL an aquafer so lots of folks get tagged for ‘flood insurance’ who don’t need it. This year was the wettest in memory and the water never reached higher than 3’ below my property.
I’d love to get rid of my $700 year flood insurance. Won’t ever use it.
I’d love to get rid of my $700 year flood insurance. Won’t ever use it.
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Wait til you get your rate increase ,, it’ll be capped at 25% since ownership hasn’t changed ,,, but it’ll likely be in the $3,000/year range which means that if you sell your house the buyer will be paying $250/month for the insurance ,, that will greatly reduce what your property sells for ...
BTW for all here , I am not directly affected by this , I am not required to buy flood insurance in my area (high ground overlooking areas any water would drain into) but this will crush hundreds of thousands of Floridians and millions (5 million) homeowners across the country ..