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DM- Flood insurance is backed by the Federal Government. FEMA sets the rates. It is a non-competitive product so every carrier/agent has the same rates. Obviously someone is not rating your house correctly. I am not familiar with St. Louis area so I am not sure of you're flood zones. Do you have a quote or a policy you can scan and post for me to look at? If not you are going to have to do some leg work to get some answers so I can help you. First find out if your area has been "FIRMED" this is an Army Corp of engineers survey. If it has been "FIRMED" there will be varying zones that have rates set for each zone. Also a set of building standards that need to be met for construction performed after the FIRM date. Vents, heights, etc. Next you will want to get an Elevation Certificate. This is performed by a surveyor of your choice. You may already have one. All new construction in my area gets an Elev cert when the survey is done. Lastly, ask your agent if you are eligible for a Preferred risk policy. You will qualify if you are in flood zones B and C and you meet height and venting standards.
If you give me a location I'll contact my NFIP rep and locate you an agent. The NFIP underwriters are very accurate and helpful.
Edit- I missed the last part of your info. A flood need not actually flood the house damage to the foundation due to erosion is a covered loss. So yes that should be a concern.
DR.
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