Question

How much do you all pay for flood insurance? We just found out we pay $5200 a year for it. We do not live in a flood area.  

Answer 1

I live in New Orleans where we have some of the highest in the nation. That’s way out of whack. I’m in a low risk flood zone and it’s like $600 for max coverage. My dads home on the water with the max they offer of 250k is under 2000. 70% of his town has flooded twice in the last 10 years. You may want to look into it

Comments

@blok6 I live in Arizona  

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@stull definitely look into it. That seems off. I own a second home with max in a non flood And it’s on the gulf coast and it is only 400/yr. I would ask thenagent

Answer 2

Then why do you have it? Just wondering- we are not in a flood plain and we don’t have it.  

Comments

@wine I have no idea  

Answer 3

What the what?  

Answer 4

Are you required to have flood insurance? If not why do you have it if you’re not in a flood area? We don’t have it.  

Answer 5

If it rains for days your location may flood. You may live below a dam, downstream from a lake or river. Put your info here. ?  
https://msc.fema.gov/portal/search

Answer 6

Maybe it covers pipe flooding?  

Answer 7

Half of our town didn’t have it last year because it doesn’t flood in the area and some new neighborhoods were built and they did not build enough retention ponds and bam. Those houses flooded twice, 5 months apart

Comments

But yea that seems very steep unless you have a mansion

Answer 8

Omg that’s absurd. How long has this been going on? That’s money that gets paid to nation flood by fema. A tiny corner of my yard is a flood zone but I get a preferred rate and only pay $500. I don’t need it but I pay for it just Incase.  

Answer 9

Not worth it. Save that money each year instead in a seperate account

Answer 10

You would have to be on a flood map. They cant make you pay it if you are not in a flood plain. I live across the street from a river and pay 2500 a year and that is just for building. If I want contents its double that

Answer 11

I live in Houston and we flood (not my house but close) pretty much every year. Our FEMA flood insurance is $500 a year.  

Comments

@higley77915 do you like Houston? Thinking about moving there

Answer 12

I live in a flood zone and literally just called around today to get quotes. That number seems really high. Quotes for $120, 000 building coverage and $10, 000 in personal property we’re running $2900 on the high end! If you have a mortgage and do live in a flood plain then most mortgages require it, call around though that seems way over priced.