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Old 06-08-2011, 08:31 AM
 
3 posts, read 9,866 times
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Hi,
I'm looking for a house to buy on Staten Island, most of the areas that I'm interested at are in a flood zone. I'm trying to find out what is the cost of flood insurance in high risk areas. How much do you pay for flood insurance if your house is in a flood zone, is it a house with or without a basement? Thanks for help.
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Old 06-08-2011, 09:09 AM
 
Location: Brooklyn New York
12,317 posts, read 12,046,488 times
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why would you buy a house in a flood zone????????????????????????????????
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Old 06-09-2011, 07:28 AM
 
Location: Manhattan
11,350 posts, read 11,246,610 times
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Why would you buy a house in a flood zone....
(Is there an echo in here? )

Why expose yourself to the risk both financial and physical? Sea levels are rising, rivers are flooding more frequently. Now seems the time to seek high ground. Unless the deal is unbelievably in your favor, don't do it.
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Old 06-09-2011, 08:51 AM
 
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I'm interested at the East Shore of Staten Island in neighborhoods such as Midland Beach South Beach, New Dorp, Oakwood and majority of these areas ARE IN A FLOOD ZONE. And yes, the prices are more reasonable in these neighborhoods than in other parts of Staten Island. I also need good public elementary schools and the East Shore seems to have better schools than other neighborhoods with similarly priced real estate properties. Could someone who actually lives there give me some insight on the cost of flood insurance? Thanks in advance.
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Old 06-16-2011, 10:52 AM
 
Location: Manhattan
11,350 posts, read 11,246,610 times
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Here's a place for ballparking. It's FEMA.

Floodsmart.gov: Policy Rates

It looks like you might want that third category of High risk COASTAL AREAS...where a $250,000 house and contents insures for about $6 grand a year.

Lesser risks have much lower premiums.
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Old 06-16-2011, 11:28 AM
 
Location: Fort Lauderdale, Florida
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Firstly, make sure you find a carrier who provides flood insurance. Many do not.

Kefir and Night, much of the eastern US is in a flood zone.
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Old 06-17-2011, 07:52 AM
 
Location: Manhattan
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Kefir and Night, much of the eastern US is in a flood zone.
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Old 06-17-2011, 07:55 AM
 
Location: Manhattan
11,350 posts, read 11,246,610 times
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Quote:
Kefir and Night, much of the eastern US is in a flood zone.
Yes indeed. But for insurance purposes there seem to be many gradations of "flood zone" and with these gradations in risk, come vast gradations in cost.

(Did you perhaps the NGEO special on ocean level rising last night? Worst case scenario, +220 feet? One pundit observed that in 50 years the largest worldwide industry will be flood prevention.)
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Old 06-26-2013, 07:52 AM
 
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It depends on what flood zone your in. For example: Flood zone AE requires an elevation certificate which requires your home to be built on or above your base flood elevation (BFE).Flood insurance will most likely be cheaper if your above the (BFE) if your home is below the (BFE) Flood insurance can get costly. Also make sure the home has flood vents sized according to FEMA regulations. Hope you find this helpful.
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Old 06-26-2013, 09:28 AM
 
Location: Brooklyn New York
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I live near the Gravesend Bay, yet I am not in a flood zone, I believe it is zone 5, as the land is higher. We didnt get anything with Sandy, nothing at all.

But after what just happened in SI, No way on Earth would I consider any of the midland beach, oakwood beach, or any beach area in SI. there is no reason to.
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