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Helllo everybody,
I have a question about the cost of flood insurance if you happen to have it. I know my question is probably too general. I am just trying to estimate the monthly cost: is it like $100 or $500 or $1,000??
Thank you all
It depends on your coverage........but I will tell you it will cost over $1000 a year. I paid $1200 a year and it didnt cover all that much. Just a relief not to have to pay it anymore not too mention worrying every time it rains. Where are you looking?
Getting closer and closer. The flood insurance was a "nice" surprise. But it looks like a lot of Hazlet is going to be rezoned and we really like that area. I was worried about reselling the house down the road but it shouldn't hurt us too much if a lot of houses are also in the zone. I'm not really worried about actually flooding (but I know it is a possibility) because we're really not near the water. This is all SO stressful.
if you require flood insurance the probability is high that the dwelling may be flooded.. I would stay away from properties in flood zones.. there are many more places that are not on flood zones so why even bother?? besides it's harder to resell these types of properties bc it will cause headaches down the road.. IMO..
for example. I forget the town that was flooded in 2007.. people were complaining about their property getting flooded, lossing their valuables and that help not reaching them.. etc.. etc.. IMO if they know it's a flood zone.. why are they surprised to get flooded.. and if they got flooded knowing the risk why should my tax dollars go help people who decide to live there regardless..
Jstar, it depends on the area. I am in an area that was designated a flood zone more than 60 years ago. The Army Corp of Engineers came in and installed a drainage system in the neighborhood and there hasn't been a claim in the neighborhood in more than 30 years. Not even during Hurricane Floyd.
Even with that, the county won't lift the designation. We're trying again to have it lifted since FEMA recently sent out notices to all the residents confirming that there have been no claims since 1978. Still, I have to pay flood insurance. It costs $100 per month.
I live lagoon front. I have $250K replacement value of home and it costs about $1300 per year. This does not cover the contents. Simply the cost of rebuilding a 3 bed 1 1/2 bath house.
The house we're looking at is a mile and a half from the water and on the other side of 36. We have a friend who lives further down, right by Airport Plaza, and he will also be in the flood zone once it's rezoned. For resale most of Hazlet will be in the same insurance boat we're in! The area hasn't had any problem with flooding in the past, but of course anything could happen in the future. I certainly wouldn't have believed a tornado would ever touch down outside my house in Brooklyn - until it did last year.
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