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Topic Title: Cocoa Beach-Flood insurance or not?
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Created On: 09/03/2017 09:51 PM
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 09/03/2017 09:51 PM
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RocketSurf

Posts: 195
Joined: 03/20/2014

Flood insurance or not?
I am rebuilding my house in Cocoa Beach which is ~1600 feet/4 blocks from the ocean on a canal in Cocoa Beach off Minuteman Cswy. Per the FEMA flood zone map (FEMA map of my location The property is listed as flood zone X (0.2 PCT Annual chance flood hazard). My new mortgage does not require flood insurance but after watching the shit-storm in Texas where only 1 in 5 people had flood insurance I started thinking it might be a good idea to purchase the insurance. The estimated cost is $650/year.
I'm curious what others think.....save the $650 and by a new board or play it safe and get the insurance.
 09/03/2017 11:43 PM
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ww

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I followed the mapping around.  In the Cocoa Beach area, the known beach washover area at the north end of Patrick is shown.  With the Banana River, I know some studies have been made of how its shallow water can slosh around in wind.  

In Vero Beach, the mapping is two years older and I think new maps will be adopted soon, but it catches real problem areas, the ones that flooded in Frances/Jeanne and assorted downpours.  Including big swaths of John's Island and almost all of Grand Harbor and Windsor.  Much better to have a vintage terrazo-floor house in Satellite Beach.

I live on high ground but near a big drainage canal that has never caused problems, but it can allow storm surge to come in, and its drainage area has become developed.  Like shopping mall parking lots.  I worry about it, so cough up the premium.  

 09/04/2017 02:40 AM
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tom

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We pay. I know people MS who had hurricane but not flood and got screwed.

Water from the top, hurricane.

Water from below, flood, even if a hurricane caused the flooding. 

 09/04/2017 03:00 AM
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SunriseSurfer

Posts: 8216
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Had flood ins (required) when I lived in Satellite for years.
Kept the ins when it was no longer required.
Never had to use it thank goodness.

But... I had to much invested not to have it.
Certainly wouldn't have wanted to lose everything and not have it.

Just consider it maintenance costs, and peace of mind.




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 09/04/2017 04:39 AM
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dingpatch

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If it's only a little water, , , , crash a tree branch through a window, , , , ! Wind Blown!.
 09/04/2017 03:51 PM
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Cole

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Originally posted by: dingpatch

If it's only a little water, , , , crash a tree branch through a window, , , , ! Wind Blown!.


Why can I picture you in a yellow slicker chucking a branch thru a window?

What does flood cover? If it's a tidal surge and the house is mostly destroyed, does that count as flood?

Actually, let me ask this: Other than fire, what does home insurance cover? I've read my policy and it seems like nothing is covered without extra insurance.



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 09/04/2017 05:27 PM
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tom

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Yes, surge is flood.

It's not hurricane insurance,

It's "windstorm".

 09/05/2017 04:13 AM
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dingpatch

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I learned that one in Risk/Insurance 101 at FSU.

So, on the barrier island, , , , tidal surge that levels your house is "Flood". At that point, the insurance companies would tell you that the hurricane force winds were "only interesting". You could argue in court, for years, trying to prove that there might have been a little bit of wind too.
 09/05/2017 09:09 AM
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Greensleeves

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Yes the case law out of Katrina taught many lessons.

https://www.law360.com/articles/469118/hurricane-katrina-s-mark-on-coverage-law-felt-8-years-later  

If you can afford it, it is a wise choice in places like Cocoa Beach.

The flood insurance program comes up for renewal in Congress soon so the topic may be moot.

 



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 09/05/2017 09:43 AM
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bus

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may have to wait anyway. Is it too close to Irma's potential landfall? Will any underwriters write the policy with the possible events that might unfold?

 09/05/2017 10:58 AM
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TONYlookaround

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30 day wait to take effect.  not in time for anything out there now.  I did the online form and their card processing was down back in June.    The fact I think is -- take your expensive stuff with you.  regardless, they cut the check if the house is empty or full -- but require receipts for everything they pay on if not a total writeoff. scam.  

personally, I think it's needed more if you live inland around retention ponds than on the barrier side (except in middle where some homes not put on a 5'pad).  get out and drive around in car or bike soon after the storm and look hard where the flooding is.  If you have cypress trees near your home or neighborhood - buy flood insurance period becuase its a naturally high water table area and natually thrive there - learned that years going 4wd in the FL  swamps with a roofline snorkel.   

 



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 09/05/2017 01:12 PM
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cubanrefugee123

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If it touches the ground before entering a dwelling, it is considered flood and will be denied by your homeowners insurance. You can purchase a sewer and backup rider that usually covers up to 10k only if you first saw the water enter dwelling through a drain or toilet. If you have that rider on your policy, when asked where did you first see the water, better believe the ten thousand dollar answer is overflowing from toilet/coming out of shower drain. After Katrina and many still pending lawsuits, your insurance Co will play dumb with you. Wind driven rain also covered loss.

I was a Catastrophic field rep for one of the largest insurance companies 2 years. PM if you want more info. Good luck all!
 09/05/2017 01:21 PM
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GreenLantern

Posts: 1261
Joined: 10/02/2007

edit

delete
asked and answered

Edited: 09/05/2017 at 01:37 PM by GreenLantern
 09/05/2017 03:07 PM
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scostuart

Posts: 124
Joined: 12/28/2007

2008 tropical storm Fay came across central Fl..never made hurricane status. Took 4 days to cross the state.... I had $15k damage due to flooding.

I live in Viera.

I have USAA hurricane and bought flood insurance for my home. I do NOT live in a flood zone and it cost $250/ yr for a separate flood insurance policy in addition to my hurricane policy.

USAA said because Fay never became a hurricane.... my hurricane policy did not cover it... but my separate flood insurance policy did!



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 09/06/2017 12:39 PM
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WG

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I was once told that if the roof or windows were blown out, it wasn't flood but windstorm as ding posted.
(I have a huge deductible on that, but at least it's covered some).
true or BS?
How much are the detectables on that $250 flood insurance anyway?

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 09/06/2017 01:32 PM
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tpapablo

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Originally posted by: WG I was once told that if the roof or windows were blown out, it wasn't flood but windstorm as ding posted. (I have a huge deductible on that, but at least it's covered some). true or BS? How much are the detectables on that $250 flood insurance anyway?

Generally true, but depends on the specific wording of your policy. The premium you pay doesn't determine the deductible, though the deductible will have an effect on the premium.



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 09/06/2017 05:45 PM
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paddleout

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OMG a cubanrefugee123 sighting!



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 09/07/2017 01:29 PM
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Cole

Posts: 32140
Joined: 07/22/2003

I pay three grand a year for a plan that requires me to get flood, wind storm and sewage reversal, what ever that is, at an additional cost.

Ain't that great!



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Trump/Putin 2016!
 09/07/2017 08:09 PM
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RocketSurf

Posts: 195
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Cole, talking to Kaboord at Brevard insurance I was told "This location is eligible for a Preferred flood policy which automatically includes Contents coverage. A Regular flood policy does not have Contents coverage and the premium 1600/year but the preferred policy is only $650. ....go figure.....I would have your insurance agent see if he can re-look at your location and see if you can lower your rate.
 09/07/2017 08:23 PM
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Cole

Posts: 32140
Joined: 07/22/2003

Originally posted by: RocketSurf

Cole, talking to Kaboord at Brevard insurance I was told "This location is eligible for a Preferred flood policy which automatically includes Contents coverage. A Regular flood policy does not have Contents coverage and the premium 1600/year but the preferred policy is only $650. ....go figure.....I would have your insurance agent see if he can re-look at your location and see if you can lower your rate.


Will do, thanks for the heads up.



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