Quote:
Originally Posted by Silverfall
You can get an elevation certification that shows that the house ins't in the flood plain. Cost out here is about $700 or so, which is way cheaper than one year of the flood insurance rider.
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Yes, that is a very good idea! Actually I got one back in 2002, when I was buying my house and it was in escrow. The elevation certificate determined that my house is at -2.4 feet instead of -3.6 feet (the base elevation for my block). I am skeptical; if I am higher than everyone else I sure can't tell that. But I am not going to argue after paying that much. As I understand it I am still Flood Zone A, but my flood insurance cost was lowered due to the more favorable elevation. Or so my insurance agent explained to me. Anyway, my flood insurance only costs me $638/year which I think is a bargain given where I live. Those down the street a few blocks in Flood Zone X pay a whole lot less than I do.
I would always get flood insurance given what I have learned about it. If anecdotal information is correct, it seemed like after Katrina, my friends with clearly identifiable flood claims got them settled a lot faster and more satisfactorily than those with wind and hail claims, I guess because FEMA pays so the insurance companies were not on the hook.
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