Tornado Insurance (Murfreesboro, Franklin, Hendersonville: homeowners insurance, mortgage, lenders)

[floridabear77]

Hey everyone,

My family and I are looking to relocate somewhere in TN. I would like to know if Tornado coverage is required when you buy a house and on average how much that is?

Thanks
Tony

[TXRyan23]

I don't think it's required...

If you're looking to relocate to Tennessee from Florida, the difference in homeowners insurance will knock your socks off...

My mother recently bought a house in Hendersonville for $236k and her yearly homeowners is $600/year through Farm Bureau.

She has the tornado included but doesn't have flood because her house sits at the top of a VERY high hill off Old Hickory Lake... They said if the dam broke in Kentucky they'd estimate that her house would then be lakefront property but it's high enough to where the water wouldn't reach it.

That was a helluva change from the $2500/year we had to pay in Florida on a $150k house back in 1999 without Hurricane coverage.

[rossc]

We pay $490/year on a replacement value of $160,000. It does cover tornado damage. Flood coverage has to be added on. We didn't see the need.

[floridabear77]

Thanks for the quick replies. As far as flooding, how often and severe does it flood in places like Murfreesboro/Franklin/Smyrna? We moved from the Fl coast inland (Ocala) to get away from hurricanes (initial impact) and from South Fl in general (miami, stay away). We have very few concerns here, we are not in a flood zone and do not need hurricane ins. Flooding is something that needs to be way down on the risk scale for us.

[Kim918]

I live in Murfreesboro. I don't carry extra flood insurance. I am not in a flood zone. I pay $513 for replacement value of $217,000 with Farmers Insurance. Flood insurance is even cheap in FL, so I imagine if you needed it here it would be cheap too. I am not sure if any of the boro is in a flood zone or not.

[rossc]

We are 1/4 mile from Priest Lake and as far I can tell, it's never flooded. The risk of flood is very, very small. I suspect the tornado risk is pretty small as well, which is why tornado damage is not expressly omitted from coverage and covered as wind damage. If there were a perceivable risk, you can bet they would take advantage of it to charge us more.

[TXRyan23]

The only way you'd see a flood here that would be all of that significant ( other than god, of course ) would be if the Wolf Creek Dam in Kentucky busts, but they've lowered the water so far that I doubt it would have much impact..

Wolf Creek Dam - Wikipedia, the free encyclopedia

[shamrock_71]

Flood insurance is only available if you live in a flood zone. The seller is required to disclose this, and most lenders will know if a property is in a flood zone and require that you purchase flood insurance. Coverage for damage caused by tornados is included in your homeowners policy.

[TXRyan23]

Originally Posted by shamrock_71

Flood insurance is only available if you live in a flood zone.

We don't live in a flood zone and Farm Bureau offered us flood...

[TNNative]

Wind damage (including tornado) is covered in a Homeowners insurance policy. Flood policies are usually only done if you are in a flood plain, but you can buy one if you choose, even if you're not in a flood plain. Most people don't do this unless it's required by the mortgage company. The best thing to have in a homeowners policy is make sure you have replacement cost on the structure and on your contents. Flood policies do not cover all the things you think they do, so make sure you are clear about what you are getting.