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Old 08-29-2010, 01:31 PM
 
Location: Louisville Ky
1 posts, read 1,953 times
Reputation: 11

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We are moving from Louisville to Cape Coral soon. We are looking for waterfront property. We have been looking at both fresh water as well as gulf access. How bad are home owners and flood insurance rates typically?
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Old 08-29-2010, 01:52 PM
 
12 posts, read 36,677 times
Reputation: 15
I have a property in Northwest CC, west of old burnt store road.
My flood insurance is about 850/year and my homeowners policy is
around 1000.
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Old 08-29-2010, 03:47 PM
 
Location: Naples
36 posts, read 86,957 times
Reputation: 25
Welcome, we moved from the Louisville area in Jan and love it so far. I live inland and do not have flood but Homeowner+Hurricane 2% is around 1K annual

Good luck
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Old 08-29-2010, 03:52 PM
 
Location: SWF
225 posts, read 494,569 times
Reputation: 107
Quote:
Originally Posted by LeavingNJASAP View Post
I have a property in Northwest CC, west of old burnt store road.
My flood insurance is about 850/year and my homeowners policy is
around 1000.
That doesn't seem too bad. Is it a newer construction home?
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Old 08-29-2010, 06:51 PM
 
Location: Cape Coral
5,503 posts, read 7,343,672 times
Reputation: 2250
I have an older home with a hip roof (important) and I am about 1 mile from the river in SE CC. I got my wind mitigation inspection and my homeowners is about $1,900; flood ins is $320.
Here is a way to find your actual flood zone on a map. Click on map search, put in your zip code, find the map number, then search by map number. You can see what flood zone your street is in.
http://msc.fema.gov/webapp/wcs/stores/servlet

Last edited by rikoshaprl; 08-29-2010 at 07:49 PM..
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Old 08-30-2010, 06:25 PM
 
12 posts, read 36,677 times
Reputation: 15
The home was built in 2005.
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Old 09-03-2010, 06:08 PM
 
Location: Florida
33,588 posts, read 18,199,670 times
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This I do know. Newer homes were built to withstand stronger winds. A home built in 2005 was under a stronger code that included stricter ways to reinforce the home against high winds. Plus the roof line is more wind resistant . I know the new homes have a lower cost but the insurance company has to look at all aspects of the home. Whether it has a pool cage with is vunerable to winds and also the replacement value of your home and the contents. It also depends on how much coverage you need for your personal items.

Flood insurance is separate and this depends on where your home is located. If it is in a more flood prone area the cost is higher.
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Old 09-03-2010, 06:55 PM
 
Location: Cape Coral
5,503 posts, read 7,343,672 times
Reputation: 2250
Most important is the value of the home and contents you are insuring.
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