Reply to What do you think the flood insurance would be on this house?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The property is in an AO zone with a 6 foot base flood elevation.  Looks like they elevated 2 feet above the BFE which is code.  The flood insurance would be based on the flood zone, BFE and elevation of the property.  Since they are 2 feet above the BFE, the flood insurance would not be substantial.  That being said, the risk is still there and flood insurance only covers 250/100k (or about) and it would cost significantly more to replace that house and redo the interior when it floods...and it will.[/quote]

Read Risk 2.0 rate guidance. Literally elevation above BFE is just one factor. How they calculate rates is no longer just zone and elevation above BFE. [/quote]

+1  This is truth.  For the NFIP, zones are no longer used to rate, but your lender will still use them to determine if you will have to have flood insurance to get a loan.  [/quote]

This house is in a flood zone so bank requires flood insurance. But flood insurance now house specific. More precise under risk 2.0.

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