flood insurance - do you have it?

[jess_g]

Do you think its worth it to get it? If you don't than would nothing be covered in the event of a flood like Irene? Just watching the news and worrying about the next time something like this happens.

J.

[AnnieW625]

Nope, not for us. We get less than 20" (I think 15" is standard, and 20 is A LOT!) of rain a year and we are 8 miles from the ocean so no real threat for us. We have hard ground too so I guess one benefit of living in a concrete jungle.

[lizzywednesday]

No, we don't have flood insurance. I would get it if we qualified, but I don't think that we do.

In order to see if you qualify, you have to check with http://www.floodsmart.gov/floodsmart/

[BabyMine]

No but we have been thinking about it. We are in a low/moderate area but I can't see how we could flood. It would only cost us $400/y for the $250/$100 policy but I haven't been able to justify it.

[nrp]

Yes. It's cheap - $300 something a year. We live in Houston and while our house didn't flood in the last big "100 year flood" event with tropical storm Alison in 2001, it makes me sleep better at night. With continuing development and drainage patterns changing, I understand that almost anywhere in Houston could potentially flood in the right circumstances.

[Mommy Of A Little Angel]

Yes we have it on the home we own in Florida. It is in a moderate/low zone but I have heard so many horror stories of hurricanes coming through and claims being denied because it was flooding that technically caused the damage. I figure better safe than sorry! It is not expensive (around $350 or so a year). Might be something worth looking into!

[BillK]

You all realize "ground water" - ANY water that enters your structure once it hits the ground - is considered "flooding" and unless you have a flood insurance policy it's not going to be covered - it doesn't have to be an "official" flood for coverage. Also - any contents (IF you have that coverage) on a flood policy is NOT covered if it's on a floor below ground level. (Furnaces, Hot Water tanks etc are considered "dwelling" not contents btw).

The only exception is "backup of sewers and drains" coverage which would pay for water damage that backs up through sewers and drains WITHIN the dwelling.

Example - heavy rains cause water to flood down your driveway and under your garage door - and into your basement. Not covered under Homeowners - covered under Flood.

Heavy rains cause your floor drains in the finished basement backup and flood your basement - covered under Backup of Sewers and drains if you have that on your Homeowners.

Heavy rains cause the drains OUTSIDE your home to backup causing water to enter your structure - flooding your basement - NOT covered under Backup of Sewers and drains on your homeowners because the drains aren't within your home. You need a flood policy.

Unless I'm mistaken - ANYONE can buy flood insurance regardless of whether you're in a flood plain or not. It's just cheaper if you're not in an official flood plain.

[lizzywednesday]

...

Unless I'm mistaken - ANYONE can buy flood insurance regardless of whether you're in a flood plain or not. It's just cheaper if you're not in an official flood plain.

I checked the FEMA flood insurance site after I posted and that's correct. It provides peace of mind to those who might flood; it's mostly inexpensive, even for flood-prone areas (I checked one of my dad's old addresses with a basement, sump pump & lakeside property - the cost per year for contents & building was still under $1000/yr) and the maps in several areas are being redrawn for next July.

We have no basement, but we do have a storm culvert running behind the house. Everything else slopes downward towards the street or the large drain at the corner of the development.

We're more likely, IMO, to have our backyard eroded away through the season than our house is to flood ... and if that happens, we've got other issues that would need to be dealt with before assessing any water damages!

[TwinFoxes]

You all realize "ground water" - ANY water that enters your structure once it hits the ground - is considered "flooding" and unless you have a flood insurance policy it's not going to be covered - it doesn't have to be an "official" flood for coverage. Also - any contents (IF you have that coverage) on a flood policy is NOT covered if it's on a floor below ground level. (Furnaces, Hot Water tanks etc are considered "dwelling" not contents btw).

The only exception is "backup of sewers and drains" coverage which would pay for water damage that backs up through sewers and drains WITHIN the dwelling.

Example - heavy rains cause water to flood down your driveway and under your garage door - and into your basement. Not covered under Homeowners - covered under Flood.

Unless I'm mistaken - ANYONE can buy flood insurance regardless of whether you're in a flood plain or not. It's just cheaper if you're not in an official flood plain.

I'm so glad you posted, because I thought this, but I wasn't sure. A friend's wife works for FEMA and he told me this once, but it was a long time ago.

Despite this, no we don't. :bag i always plan to get it, especially right after an event like Irene, but then I forget. Hopefully I'll remember this time.

[twowhat?]

At our old house we were required to since it was in a flood plain...but the area was built around a system of canals to deal with flooding and the canals worked great - that year that we had a month straight of rain we had no issues.

At the new home (not in a flood plain), we do not and don't plan to.

[secchick]

We have it, but we are in a recently redrawn (post Tropical Storm Allison) 100 year flood plain, and our city required us to build on a pier & beam foundation 1 foot above the 100 year level, about 5' total. They have since done major work deepening, widening, and cleaning out the nearby bayou greatly improving drainage. We had it even when we weren't anywhere near a flood zone, at just enough to cover repairs and contents on the 1st floor of our 3 story townhome.

[Mommy_Mea]

We really need to get it...

When I got the quote from our insurance company, the rep mentioned that it covers ANY surface water entering the dwelling. Not just rain, but if a water pipe breaks in the street. This would not be covered under homeowners insurance. So even if you don't live in a flood plain or near the ocean, flood insurance is still a good idea.

[Staraglimmer]

Yes, and it is expensive. $5,000 a year for us to be properly insured. I didn't know you had to "qualify" for it. I can't imagine not having it, but then again, look at where I live.


Sent from my iPhone
Steph

[kbud]

Yes, we have it. It's like $350 a year. We are not in a flood zone but live about a mile from the intercoastal waterway. I also wanted to ensure we were covered on all basis in a hurricane. Many of my neighbors thought I was crazy for having. We had tropical storm Fay in 2008 and had over 25 inches of rain in 3 days. The water retention ditch across from my house filled completely and was only a few feet from the houses. My neighbors now think I'm smart and have it too;)

[Puddy73]

Yes, we are required to carry it because we are in a flood zone (across the street from the intercoastal waterway). It runs about $900 per year. We would probably have it even if it wasn't required. Even a small flood can cause very expensive damage.

[Kungjo]

We have it even though we're not required to. It's peace of mind for us since we moved from a flood prone state to one that wasn't. I have always had flood insurance and feel better having it since pipes and water heaters can burst any time and cause a whole lot of damage. I think ours is $355/year so it's worth it.

[lowrioh]

We don't have it but we live at a high point in the neighborhood (very top of a very steep hill) so unless we are talking about Noah-esque flooding we should be OK.

[SnuggleBuggles]

We don't have it but we live at a high point in the neighborhood (very top of a very steep hill) so unless we are talking about Noah-esque flooding we should be OK.

Our agent talked us out of perusing it because of that. I still want it b/c doesn't something like the roof getting ripped off and the house flooding with rain that way need flood insurance vs regular? Not that that is likely to happen either but I'll be ticked if it does and we aren't covered!

Beth

[o_mom]

Our agent talked us out of perusing it because of that. I still want it b/c doesn't something like the roof getting ripped off and the house flooding with rain that way need flood insurance vs regular? Not that that is likely to happen either but I'll be ticked if it does and we aren't covered!

Beth

The way I understood it (which could be wrong) was that wind and rain entering from above is regular insurance, water coming up from the ground is flood insurance (except for storm/sewer backup).

I know that one of the big hurricanes - Katrinia, Rita, Ike, etc - I was watching a whole lot of CNN and they explained how insurance adjusters were trying to determine how much damage occurred from wind and rain before the floodwater came up. Everything from the 'storm' was covered, but damage from the 'flood' was not.

[kristenk]

We are in the process of getting it. It seemed as if the "forces that be" have been conspiring to have us get flood insurance. DH was talking to someone in the neighborhood and the subject of flood insurance came up. We've received at least 3 mailings from FEMA about flood insurance and its importance. I think there was one more flood-related thing that came up.

We filed the paperwork with our agent but just got some sort of paperwork request from FEMA. I need to follow up with our agent to see if he provides that or if we're supposed to.

It's not too expensive, we have a creek behind our house and we've seen water fill the far part of our backyard during heavy rains when the creek flooded. Our house is situated quite a bit higher than the back part of the yard, but it seems like a good thing to have, just in case.