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Old 10-07-2013, 12:08 PM
 
201 posts, read 370,275 times
Reputation: 207

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Small house...750 sq ft and that includes my outdoor living area....last year the rate was $750...this year they are charging $3,300. Home is over 35 years old and to date has never flooded.
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Old 10-07-2013, 03:07 PM
 
Location: Metairie, LA
1,087 posts, read 2,119,696 times
Reputation: 1457
Flood insurance depends on only 2 things:

1.) Flood Zone in which the house is located

2.) Elevation of said house.

It sounds like BW is changing the zone for that area. You can see the updated zone information here: ~Region 6 Flood Information Portal~
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Old 10-07-2013, 04:56 PM
 
105 posts, read 220,964 times
Reputation: 104
Ouch. I've read that people this is only the beginning. The government is trying to increase revenues and people in flood areas are going to pay the price. I've heard that many people who had low premiums like yourself may have to shell out over $20,000 per year by 2017. This is very scary for a lot of good people.

Quote:
Originally Posted by gsfan View Post
Small house...750 sq ft and that includes my outdoor living area....last year the rate was $750...this year they are charging $3,300. Home is over 35 years old and to date has never flooded.
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Old 10-08-2013, 02:36 PM
 
16,827 posts, read 10,631,219 times
Reputation: 15446
Quote:
Originally Posted by TommyTucker View Post
Ouch. I've read that people this is only the beginning. The government is trying to increase revenues and people in flood areas are going to pay the price. I've heard that many people who had low premiums like yourself may have to shell out over $20,000 per year by 2017. This is very scary for a lot of good people.
Yup, exactly. In our area FEMA sets the flood maps, then you get to pay FEMA for your insurance. Never mind that our area has never flooded - and that they lump a HUGE area in, even though there are low and high spots that vary wildly. And if you don't get your own insurance, you are FORCED to get it through FEMA, and if you don't pay, they put a lien on your home.

Luckily, our city is fighting it, and it should be declared exempt. But the wheels grind slowly, so we'll see how that goes.
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