Flood Insurance? (Corpus Christi, Allen: foreclosed, new home, buying)

[SOM]

My wife and I are debating whether or not we should have flood insurance. We live near King High School. I'm thinking not. We have windstorm, but I don't think we need flood. It's only $300 a year, but that is $300 that could go elsewhere.

Whaddaya think? Do you guys (and gals!) recommend flood insurance in the CC area?

[jbtx]

I may be mistaken, but I think flood insurance is government controlled. Your insurance agent should be able to advise you about the need for this protection. Like you, I'm thinking the area around King H.S. might be a low risk area. I live closer to the bay, (south CC, near Airline and Saratoga), and I opted for not spending the money. My 3D GPS says I'm 31 feet above sea level so I'm not in a flood plain, I'd think King H.S. would be higher. The need for flood insurance would be a function of how close you are to the river/ship channel, and your actual elevation. Folks in CalAllen are probably at the least risk unless they live close on the river.

Just a guess on my part, but you should do your own due diligence before you decide.

[SoldierBoyBliss]

I dont know, I would have it as a just in case thing. But I can be over cautious.

[jbtx]

SoldierBoyBliss,

To some of us, $300.00 extra per year is a real concern, especially if it's money we don't need to spend. I do advise caution and due diligence, but if you ain't in a flood plain, don't waste the money.

Just my .02 cents

[SoldierBoyBliss]

@jbtx, I understand and agree. Being Military I often forget about such matters on the civilian side of the fence. For me in my current pay grade $300.00 a year sounds like a great price to secure your home from flood damage, but with homestead and other discounts there maybe a way to lower the cost of that insurance.

[JoseRZ]

You can check your risk at the government web site FloodSmart. They have been running a ton of ads recently. I live between Cullen middle school and king. I am rated middle to low risk.

According to a storm surge map a cat 5 could reach up to Weber from Oso bay. But that has to be a worst cases scenario. The elevation is from 29 to 25 feet from Weber to Everhart. Everhart to Airline it is 25 to 20. Airline to Oso is about 20 to sea level. These of course are approximate levels.( i used google earth for the info, and used Golihard as the measure point. I am assuming it is correct. At my home it said 16 feet and my gps shows 16 feet)

side note I just notice the storm surge map I was looking at has a accuracy of +/- of 20%. You would think in this day an age they would be able to tighten up the numbers a bit. But when you deal with nature I guess you give yourself some wiggle room.

[jbtx]

It seems the National Flood Insurance Program has been suspended.

Flood Insurance Program Drowning in Debt « Liveshots

[Austin97]

Originally Posted by jbtx

It seems the National Flood Insurance Program has been suspended.

Flood Insurance Program Drowning in Debt « Liveshots

just FYI we are still suing windstorm to get any money after our house was completely destroyed by hurricane ike.

Just because you have windstorm doesnt mean you will get any money either.

Make sure you read your policy to make sure 1) the limits are updated 2) you understand exactly how you get paid. For example it might be by depreciation so even if the damage is 100K to replace they may only give you money on a depreciated basis.

Also take pictures of all of your stuff to make it much easier to prove that you have it.

[loves2read]

the govt has to vote to extend flood insurance program

we had to take it out because FEMA put out new flood maps for our area in DFW part of TX--we own older home that is being rented--it backs to creek that is mainly storm water overflow channel vs every day running water type of creek...
our house has 4 ft high concrete wall at the back of our fence line then the lot drops down the 4 ft to the base of the creek--our lot extends about another 15-20 feet before the other lots starts midway in the creekbed...
we lived there 20+ years before moving to new home close by and never had any flood water come out of that channel into our real yard--
FEMA did not new hydrolic measurements -- took no new on-the-ground-surveys--just decided that because this area has seen major growth (more concrete/runoff waters) that the likelihood of flooding was worse--
it moved the flood line into my garage and that of some of my neighbors who border the creek...

we got a survey company to help with letter of map amendment--which means they surveyed our lot/house--got a city flood control map to use to document what the city said was the flood height--and we sent the application in--FEMA agreed that the house was not in the flood plain anymore but part of the lot is--obviously since we have half of a creekbed on our property...

we got better price through the bank's mortgage/flood insurance program than our regular insurance (State Farm)...we were charged like 2400K for a year's worth of 250K flood insurance--that is top of what the govt program will insure==
if your home/contents are more valuabe then you have to add private insurance (more expensive definitely) on top of that...

we sent in the FEMA agreement to amend the flood map to our bank (BoA) -- they review the info--and likely will say we don't have to carry flood insurance through them...

I was planning to take out a lesser priced policy now that we were technically out of the flood plain just as CYA policy--but with the govt program suspended while congress gets it head out of its ass--don't know how lond that will be

there are apparently thousands and maybe hundred of thousands of homes that can't close because they are in flood zones--think FL where people have been buying foreclosed property and almost everything is in some type of flood zone--
most people can't afford the higher priced premiums of private insurance companies--and in FL especially the decent private companies have left the state homeowners to the mercy of some pretty flighy shady insurers--so they need the baseline coverage from FEMA..

[joel howell]

If you havent purchased flood insurance yet, be sure to contact Elly Soler in the Corpus Christi area. I know she is a Flood Insurance expert there. Corpus Christi is prone to the next big Hurricane.