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Old 04-26-2016, 11:01 AM
 
2 posts, read 11,129 times
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Hi all, I’m trying to find so information on the cost of Flood Insurance. My wife and I lived in the SW Cape 2000-2004 a block or 2 fromCape Coral Pkwy and Chiquita. We are looking to move back to Cape Coral,currently in North Carolina. We are looking to move to the SW area, south of Cape Coral Pkwy and West of Chiquita. I would like to get an idea of what people are paying for flood insurance, when we live there it was a flat rate of about $600 per year, from what I understand all that has changed big time. It’s very frustrating looking for homes in this area and trying to find out what the flood cost is on a particular houseunless is has a flood certificate, and if it doesn’t there’s no way of knowing the flood insurance cost unless I have a survey done before I buy the home at my cost, I don’t even want to pay flood insurance. So I’m trying to see what others are paying in the areas I indicated above. Thanks All


Regards


Steve








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Last edited by SteveO1957; 04-26-2016 at 11:56 AM..
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Old 04-26-2016, 11:23 AM
 
Location: Cape Coral
390 posts, read 635,200 times
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When I was considering buying my house in CC, the insurance company I ended up going with was able to get the elevation certificate from Lee County's web site. I've looked for it, but have never figured out where he got it. If the insurance company you're talking to doesn't know how (or doesn't want) to get it, maybe they aren't the best ones to be working with.
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Old 04-26-2016, 11:50 AM
 
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The flood insurance rate will greatly depend upon the elevation certificate of the property. We have a house fairly close to where you describe, and our flood insurance is under $500 per year with a $10K deductible. If we went with a $5K deductible, the premium would be about $650-$700 per year. The house was built more than 1 foot above the Base Flood Elevation (BFE) for the area, so that greatly helped to get a good rate.


Best luck.
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Old 04-26-2016, 04:46 PM
 
Location: Cape Coral
195 posts, read 271,947 times
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Flood insurance is an issue that is very difficult to understand. FEMA draws up flood maps and then changes it from time to time.
A flood line could cross a particular l lot, half in and half out. So a standard answer is not really going to come.
If you give an Insurance co a particular a address they should be able to tell you what the rating is on that lot.
Properties that are East of I 75 are in the X zone. That means flood insurance is not required.
I advise all home owner to get at least minimal flood insurance even if in X zone. Over 89% of flood insurance claims come from X zones.
You can go to LEEPA= Lee County Property Appraisers, and look up a property by address and you should find the flood zone rating.
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Old 04-26-2016, 11:41 PM
 
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It is a tricky number to nail down, but most insurance agencies (brokers, that have access to several companies) should be able to pull up the information online based on the address and give you a worst case scenario/ballpark of the costs. I worked in mortgage lending for 16 years and was always able to get good estimates on tricky construction types or older homes that were built at lower elevations. Sticking to a newer home will mean lower Flood insurance costs to you. Anything before 1988 will definitely cost you more as would a frame or 2 story home.

Here is the site for estimated home insurance (not flood): https://choices.fldfs.com/pandc/home...201.1449779461

That might be helpful.

You can find Flood Certifications and permits (shows the actual elevation of your home), online if built after 2000: Status: Search for a Permit/Case

Best of luck on your move back to Florida!

Laura
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Old 04-27-2016, 04:27 AM
 
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This is very interesting to me as I am getting ready to start a sea wall on my property in the NW, I was told by the builder after he got the survey this week an 8' wall would be all i needed and would have a very slight slope down to the wall. Im going to talk to him today about a 10' wall for flood insurance and to level the property . I dont want to be the only property with a wall a foot higher than everyone else but am concerned about flood insurance.
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Old 04-27-2016, 05:23 AM
 
2 posts, read 11,129 times
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Quote:
Originally Posted by JH64 View Post
This is very interesting to me as I am getting ready to start a sea wall on my property in the NW, I was told by the builder after he got the survey this week an 8' wall would be all i needed and would have a very slight slope down to the wall. Im going to talk to him today about a 10' wall for flood insurance and to level the property . I dont want to be the only property with a wall a foot higher than everyone else but am concerned about flood insurance.

Hi JH64, I believe Whether or Not you install a sea wall at has No impact on your flood zone/flood insurance. It depends on your location, and the height of your home, also if your are East of El-Dorado you are in the X zone and you don't need flood insurance if your are West of El Dorado you are in the AE zone, requiring flood insurance, if you have a mortgage on the home.


Steve
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Old 04-27-2016, 01:09 PM
 
179 posts, read 347,375 times
Reputation: 228
Quote:
Originally Posted by JH64 View Post
This is very interesting to me as I am getting ready to start a sea wall on my property in the NW, I was told by the builder after he got the survey this week an 8' wall would be all i needed and would have a very slight slope down to the wall. Im going to talk to him today about a 10' wall for flood insurance and to level the property . I dont want to be the only property with a wall a foot higher than everyone else but am concerned about flood insurance.





It's the elevation of the house itself, not the seawall, that matters most when it comes to flood insurance rates.




Best luck.
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Old 04-27-2016, 03:05 PM
 
Location: Cape Coral
195 posts, read 271,947 times
Reputation: 208
Flood zone maps are under the control of FEMA. They have a website that answers a lot of questions as well as explaining in more detail what all this means.
The link to FEMA is http://www.fema.gov/homeowners-frequ...sked-questions
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Old 04-28-2016, 04:58 AM
 
54 posts, read 67,713 times
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Quote:
Originally Posted by Living the Florida Dream View Post
It's the elevation of the house itself, not the seawall, that matters most when it comes to flood insurance rates.




Best luck.
A higher seawall will allow you to build up higher , I know there is code requirements for the downward slope to the wall so you cant just build up higher and have a greater fall of the land to the wall. I was trying to if possible get up to the elevation to avoid needing flood insurance. I dont know if that can be done.
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