Coverage is available and will be through FEMA/NFIP so long as congress votes to continue the program. There is no reason to think they won't as there isn't an alternative if they don't. There isn't a viable alternative in the private sector.

When the Biggert/Waters flood reform act went into affect it was all encompassing and the rates skyrocketed on everything. basically what happened was people were walking away from their properties as they couldn't afford the insurance. So the already unstable and devalued real estate market was being further devalued and a second wave of foreclosures began. The Real estate market hasn't recovered from the financial colapse yet. The last thing the Gubmint need was a second wave of properties in foreclosure that couldn't be liquidated not to mention what was on the books that would potentially have the same issues. Lending institutions would be stuck with properties that had no value at all. So to over come the Biggert/Waters boondoggle an amendment was made to the act effective May 1, 2014 that basically "grandfathered" pre-firm properties. So they still get a subsidized rate/ At least for the near distant future. This stabilized rates on structures built before flood proofing guidelines were enacted. Post-firm properties (New construction) must be in compliance or they will get whacked. There is a semi-subsidized rating for some of these properties but over the next five or so years it will be phased out to actuarial rating.

In your case you will go directly to actuarial rating. The rates vary by town/municipality. There are a multitude of factors that come into play. Whether or not the town/Municipality participates in flood management, is in compliance, so it gets all the rating credits, has violations that increasing risk causing rates to be higher, zone, elevation, building construction, etc.

Your town/municipality building department will have the flood requirements for new construction. Consult them first for flood proofing requirements. Consult an agent familiar with area and the NFIP flood program for estimated rating. The agent won't be able to tell you exactly unless you have an elevation certificate. But they should be able to give you a ball park based on similar criteria. You as the builder, the building inspector, architect and surveyor all need to work together to ensure the building is constructed according to FEMA/NFIP guidelines for your area. You would be surprised what happens to your rate if a flood vent is one 1/4" to high or the A/C platform is 1/4" to low or the crawl space isn't back filled to grade.

Hope this helps.SmileWavy

Since you haven't built yet, you can build accordingly. The bottom floor could be just be garage/storage with concrete walls. If it floods, just hose out the mud. Do you know how deep the water can get?

if you think flood ins is costly or even will be at market rates soon

just check out the cost of windstorm ins [aka hurricane ins]
it is over 2% here ie 4k for a 200k house on top of the flood rates and plus the basic fire/theft/lib
then watch the wind ins people fight the flood guys
as each will claim the other is to blame
and delay any payout after a cane hits

Our home was in a 100yr flood plain zone AE. We were required to carry flood insurance by our mortgage holder. When we bought the home in 1998, the rate through FEMA did not seem too bad ~$400. Well over the years the rates climbed continually, up to $1700 last year.

Last year the city informed us they were taking another look at flood zoning. The results did not change our flood zone status. The city did, however, offer to pay for new surveys which we took advantage of. The new survey determined that our elevation was sufficient to negate our need for flood insurance.

Seems you've got a possible double whammy in being both in a coastal construction zone and also flood zone.
Before I'd sign on the line get something in writing from the local building officials regarding what their requirements would be. In writing can be an email btw.
I've got a friend who's got a house in the floodway (not floodzone, learn the difference) and his insurance is about 4K a year to the point of him possibly raising the entire house to get a reduced rate. House from 1840 umm yeah, that'll be a piece of cake.

In 2008 or 2009 FEMA just peanut buttered in thousands of homes without due diligence. They just did it and when they did, my house all of a sudden became in the highest flood rating. I can't even remember the x amount of dollars they and other insurers wanted, but it was plenty.

I fought them. I do have a creek that is around 400+ feet from my house and some 26 feet lower. I hired a surveyor and did all the paper work and they settled on that I was not in the flood zone. Cost was about $600 for the surveyor.

My other 3 neighbors followed my lead and everyone got out.

You can fight them if you can prove things don't make sense.