Ive had flood insurance on and off over the years. When I had the house built I had to have it, and when I had a mortgage. My first floor is 7' above the base flood elevation so it was never that expensive. Then I switched insurance company's and for some reason they said I had to have it. So I got it again and it was around $500 a year for $250,000, the max. A couple of years ago I changed insurance company's and let the flood insurance expire. Well I thought I would go ahead and check with the new agent on the cost of flood insurance just to be safe. He came back with a quote of $340, so I sent him a check. Then the insurance company comes back 2 month's later and wants an aditional $1,700
, I told them he's nuts and they better check again. Now they said the quote should have been $660. Now there shouldn't be that much difference in quotes. I told him I'll think about sending another $320, but I may just want my money back.
I have no worry about flood water getting into my house. The big flood was in 1993 and my finished floor was 6 or 7 feet above that. My house was built in 2001 and had to be built according to FEMA rules at the time. My only concern is the foundation. The footings had to be built a certain way, but I still wonder if the water came up if it could cause some movement and damage my foundation.
Is this a concern?
