Flood insurance?

[Mr. Bloom]

Certainly, if I'm eligible for what they call a preferred rate, then the premium would be considerably less, and would be a no brainer.

Understood. The FEMA site deals with the topography of the land, not the elevation of the actual house as it sets on the land. That's where a survey (or the elevation certificate) may come in handy getting you a lower rate... But it's been years since I've dealt with this...and there's a lot of complexity in grey areas like this...

I don't think the program is any slower than any other insurer. If you do turn out to be a preferred risk, I think you can actually purchase it directly through your own insurer

[jessmarimba]

Indy, if you are in the 100-year flood plain, your address may well show up as being within the flood zone boundaries but the elevation of your property may remove you (with the elevation certificate someone mentioned earlier). There is a base flood elevation that defines that flood plain, and your specific property may be above that elevation but most FEMA maps are pretty generic and don't pay much attention to minor topographic changes. There are also letters of map change that are on file that exempt properties from the flood plain - people can petition to be removed if they are above the base flood elevation so that they are not forced to get insurance. A previous property owner may have done that.

I do this sort of research for commercial properties with federally- backed loans - let me know if I can do anything to help settle your mind on this.

[indysteel]

Indy, if you are in the 100-year flood plain, your address may well show up as being within the flood zone boundaries but the elevation of your property may remove you (with the elevation certificate someone mentioned earlier). There is a base flood elevation that defines that flood plain, and your specific property may be above that elevation but most FEMA maps are pretty generic and don't pay much attention to minor topographic changes. There are also letters of map change that are on file that exempt properties from the flood plain - people can petition to be removed if they are above the base flood elevation so that they are not forced to get insurance. A previous property owner may have done that.

I do this sort of research for commercial properties with federally- backed loans - let me know if I can do anything to help settle your mind on this.

Thanks, Jess. I've spent some time this morning trying to make sense of the maps available through FEMA. I can't say that I've spent enough time, however, to find anything that specifically addresses my property. It's hard to sort through, at least given the limited amount of time I've been able to devote to it thus far. I'm otherwise knee deep in an opinion I'm doing for work so trying to get my head around a mutual insurance company's demutualization on one hand and base elevation certificates on the other is giving me a headache!

I suppose this is too easy, but is there a definitive source of information or county office I can go to figure it out. One question I have is this: let's assume there is an exemption for my property in terms of being required to carry flood insurance. Does that mean I can't get any policy at all or that I could be elible for a policy at a "preferred" rate.

[Biciclista]

you won't find too many policies that are cheaper than what the feds are offering.