Relocation Questions: Insurance (Savannah: rent, home owners insurance, lender)

[Harvey]

Greetings,
I have a job offer and am considering relocating to Savannah. I am not sure yet if I would rent or buy (sloooowww market on my end) and it seems like prices continue to drop there so waiting might be good?
I am concerned about some of the other posts I have read which referenced the exorbitant cost of hurricane insurance. I was hoping to get a general idea of the cost of hurricane insurance, if you carry it, if it includes flood insurance, what it covers, etc.

Any guidance you can provide would be greatly appreciated.

Thanks!

[Padgett2]

I don't think there is anything called Hurricane Insurance. We have Flood Insurance which any lender will require if you buy a house. Home Owners insurance, which will also be required if you buy, will cover Storm Damage.

How much it costs depends on the value of your home. A 75,000 house policy will be a lot less than a 500,000 dollar house. If you rent, you won't have flood insurance. Also, some companies are no longer taking new customers in the flood prone areas.

[bgnzsavnh]

Flood Insurance would be only required if you live within the 100 year flood areas and is optional outside of the Flood zone, But is recommended becauce of the threat of hurricane, Especially on the islands and lower elevations- lower than 20 feet above mean sea level. Georgia has not received the rate increases as have more hurricane prone areas
CEMA: Chatham Emergency Management Agency
FEMA: Answers to Questions About the NFIP

Overall Flood Map for the City of Savannah and the unincorporated areas of Chatham County

new houses in Lakeshore and Rice Hope seem to be selling well- faster than I want them to...............................

[Harvey]

Thanks! I will check out those links.