Flood insurance when not in a flood zone (Peabody, Clinton: house, live)

[simplexsimon]

Do you carry flood insurance even if your house is not in a FEMA designated flood zone?

Thinking about climate change, increase in man-made structures, legitimacy of flood zones and claims of 100/500-year flood events, or even more simply failure of local drains during a major rain storm.

[Shrewsburried]

Originally Posted by simplexsimon

Do you carry flood insurance even if your house is not in a FEMA designated flood zone?

Thinking about climate change, increase in man-made structures, legitimacy of flood zones and claims of 100/500-year flood events, or even more simply failure of local drains during a major rain storm.

IMO, the flood plane maps have been updated and are, in my opinion, fairly conservative. I might be inclined to price it out if I lived in low lying areas (e.g., Clinton and Peabody centers). Low risk areas are still a few hundred bucks per year, so you'll really need to weigh whether hedging makes financial sense.

[simplexsimon]

I'm getting quotes for ~$550/yr for $250k (the max) of coverage. I read that typically basements are not covered and that in some cases claims were denied because the damage was caused by heavy rain vs a creek flooding. Does anybody have experiences to share?