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My home is in a 500 year flood plane. Will my mortgage company require me to carry flood insurance? I think the answer is no. Thanks in advance for your comments.
 

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Flood Insurance

No probably not, but from personal experience you'd be a fool not to!! It's cheap!! average 300 to 350 a year. What part of the country do you live in?
 

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Look in the inside of a person for love
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Your mortgage company shouldn't require you to carry the flood ins. We live in the 100 yr. and ours didn't require too. But just for a peace of mind we carry it anyways.
Good Luck....It is cheap...
 

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in 500yr, no - it is not required. if you live close enough to a 100 yr, you might consider getting it. If you PM me your address, I will look at the floodmap and tell you how close you are to the 100 yr floodplain.

rendon - I don't know how you got not being required to carry it (unless the floodplain adjusted and now includes you) - but it's good that you do have it.
 

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I think a levee district essentially removes the protected area from the 100 yr FP - but I'm not used to dealing with LIDs, so I don't know.
 

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slap ya mama
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yes.yes.yes ...I was told I didnt need it and flooded in 94......its cheap insurance,,,,233.00 bucks a year and I'm on the edge of the 100 year where it meets the "AZ" zone...if you do flood and dont have it you will have to sit back and wait for the goverment to cut you a check (thats if you are approved for it) while the rest of your neighbors are making repairs//////good luck..
 

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The question is.........how long ago did the last 500 year flood come? few years back or 499 years ago............ :D:D:D:D
 

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Statistically, you are more likely to collect on flood insurance, than you are on homeowners. It's well worth the money and like all insurance, just hope you don't every need it. We have deer standing knee deep in water in west Texas right now, under deer feeders. You never know what mother nature has in mind.
 

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Like the old saying goes..."I'd rather have a plan and not need it...than to need a plan and not have one"

Same is true with insurance....
 

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These days with all the construction going on, roads, buildings with huge parking lots, homes, you never know how the local drainage has been affected. A lot of places that didn't flood before have done so in recent storms. As others have said "better to have and not need"
 

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Aggie Mom
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If it's not required, BUY IT ANYWAYS! You may not have a flood, but if the steet overflows from a really heavy downpour and water gets into your home, you want it! Plus, if it's not required, it's really inexpensive i.e. a weekend at our bayhouse can run $150+ on food only. Two weekends of food at the bay will more than cover our flood insurance.
 

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Its Cheap. Buy it and hope you do not need to use it. About $1 or less a day. Cheap peace of mind. Also you need to think not only about natural flood, a Busted pipe or water heater in your house. Water damage. Not covered anymore by alot of Homeowners policies. Check yours and read the fine print.
 

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You got that right!

I'm not on the flood plain. We flooded in 1994 and last October. After the '94 flood we got insurance, although we suffered no damage, but saw how close we got. Last October we got another close call due to the drainages still plugged by Rita debris. Plus, we have no drainage district. At $200 a year, Mcw got it right, I do sleep better at night too.
mcw said:
$230 is very cheap piece of mind....I sleep better at night with it.
 

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sqwaby said:
These days with all the construction going on, roads, buildings with huge parking lots, homes, you never know how the local drainage has been affected. A lot of places that didn't flood before have done so in recent storms. As others have said "better to have and not need"
Absolutely true. All the development that has been going on all these years adds to the "Impervious Structure" - roof tops, concrete slabs, parking lots, streets; hundreds of thousands of acres of ground that used to absorb the water just can't anymore, and it all affects runoff and flood plains. I know its true in San Antonio and Houston has 4 times the population, is much closer to sea level, and basically already flood prone.
 
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