Flood Insurance (homeowners insurance, mortgage, house)

[chisco34]

I just wanted to share with those that might be in need of flood insurance that there is a large chance new premiums will be on freeze as early as Wednesday due to the impending hurricane. I called today, the annual premium is approx. $245, paid up front if you are not in a flood zone. I live in NW SA, I assume it will be the same price across the city if you are not in a flood plain. The agent said when a hurricane or tropical storm is on the rise, they freeze new premiums so you can't call up in the middle of a storm on the chance you get heavy rainfall in your area.

[firstclassflyer]

I believe that there is a standard waiting period before the insurance takes effect anyway,to prevent just that scenario from happening.
I think our waiting period was 30 days.

[dmarie123]

I've read that the waiting period is 30 days.
Where'd you get the qoute? I called Allstate a few weeks ago, my homeowners insurance is through them. I'm not in a flood zone, and they were asking $325?

[Ms. 01 Snake]

Typically if you are not in a flood zone, or an area deemed to be a flood plain ect, you can't get flood insurance. The Federal Government determines where these areas are and assigns "zones" based on the history and area in which the property is located (100 year flood vs 10 year flood).

If you are in a area that has been zoned as flood, your mortgage company is going to let you know as they will likely require you have flood insurance as it is not covered under the normal homeowners policy.

Please make sure you are getting your house on your stuff insured as they are separate coverages under the flood policy.

Flood policies are written by NFIP (Nation Flood Insurance Program), while you may get it through your agents (State Farm, Allstate, Farmers, ect) it is all the same policy and the premium is based on what zone you are in.

There is a 30 day waiting period and no insurance company will write a homeowners policy once an area is under Hurricane/TS watch or warning.

[dmarie123]

What do you mean if you are not in a flood zone you can't get insurance? I've never heard that and I'm pretty sure that's is completely false.

[firstclassflyer]

We're not in a flood zone, flood plain etc..and have flood insurance. We weren't required to purchase it..it was something that I wanted. Yeah, I'm pretty sure that's BS.

[Ms. 01 Snake]

They usually only write a policy if you are zoned for it. The area you live in has to be a NFIP participating area.

FEMA: The National Flood Insurance Program Here is the NFIP website.

[firstclassflyer]

We're not in a flood zone/plain, but I guess our community is participating.

[Ms. 01 Snake]

Originally Posted by firstclassflyer

We're not in a flood zone/plain, but I guess our community is participating.

I would guess SA is a participating area.

[firstclassflyer]

I would guess that most of TX participates..and from what I've read..most of the country for that matter. In summary, most people in the US can buy flood insurance.