Quote:
Originally posted by Z-man
However, I am certain that those folks who live in my town that are in the flood plain are required by law to purchase flood insurance. Maybe it's different in Mississippi and Louisiana - I dunno. But like it was said above - if you live at or near the sea and your house is at or below sea level, it should be a no brainer that you need flood insurance, especially if your area is known for its hurricanes.
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There is no law that I know of requiring flood insurance if you live in a flood plain (plane?). The issue is acquiring financing. If you live in a flood plain, no one will finance the property without flood insurance. Additionally, FHA, for example, won't insure any NEW construction built in a 100 yr. flood plain.