Taxes and Insurance

[pk305]

Thanks for comments EXCESS FLOOD INS

Thanks to all for the helpful comments in response to my Excess Flood Insurance post!

Got good news today....really GOOD news:funn:....my agent was able to find another source for this and it is $2,000 less!!!!

Huge difference....same coverage, etc....makes me crazy to think I might have paid that other company that ridiculous higher premium!

Even though it's not required for me to have this, I will sleep better!!


THANKS again,
PK

 

[ShallowsNole]

I'm guessing you have been with the same company for a number of years. If your company decides to stop insuring you for wind (like many have), you will have a separate wind policy. i will keep my fingers crossed for you!

Allstate Floridian when we built, and last year they gave us to Royal Palm. So far so good...please cross your toes, too!

 

[fisher]

We're in the Eastern Lake area (between 30A & Eastern Lake Rd)....
have been paying for this EXCESS flood insurance for several years now....
I'd love to hear from others...??? is this something I really need to be buying??
Next year's premium is about $3300 and is due in June....ugh!!!!

THANKS,
PK

Depends on the cost to rebuild your home and how much you like to gamble. The basic flood covers up to $250k. If your house would cost more than $250k to rebuild and you want total piece of mind, buy the excess coverage. If want to gamble due to higher relative elevation of your property or some other reason for having a higher risk tolerance, forego the excess coverage (or only insure part of the additional value above $250K).

I buy full value excess flood coverage just to make sure I don't sustain a huge loss in the event of a CAT 5 hurricane with a huge storm surge hitting the area (may it never, ever happen!!!).

 

[30ashopper]

I always felt I was immune due to elevation and distance from the beach, until Katrina. Having been over there and seen the inland destruction, I signed up for flood. A 40 foot storm surge hitting miramar beach would wipe my little house off the face of the map.