Flood Information
1. Being in a Flood Zone isn't necessarily a bad thing... Homes can flood from various sources thus affecting more than just homes located in designated flood zones. Flood Zone Maps can be determined by a general area more so than actual past flooding. If a Home is determined to be in a food zone (Check the food zone maps below), it may still be above base flood elevation and therefore may not have ever flooded and require flood insurance at a much lower premium.
2. Flood insurance usually covers any damage caused by rising waters from rain, rivers, canals, drainage and similar events of nature.. Damage caused to a home's roof and then water damages the home would fall under regular home insurance, but check your insurance policy to make sure you are covered for what you need.
3. Flood insurance is only required by a Mortgage Company/Bank if the home is located in a flood zone. See flood zone maps page below. If there is no lien on the property, then you are not required to have flood insurance. If you do not live in a flood zone, but have a lien, you are not required to have it.
a. If Buying a Home, and that home is located in a flood zone, have your REALTOR check to see if the seller has done a Base Flood Elevation Survey and that will determine the Base Flood Elevation and the Home's elevation as far as how far the top of the bottom floor is above that flood level... Flood Insurance rates decrease the further above that mark you are. If a Seller has lived at that location for a long time through several area flooding event's, they will usually say and are required to disclose any past flooding as well.
If the seller doesn't have one, you can have a Base Flood Elevation Survey done as part of the inspection process or as part of a contingency on buying the home in your offer.
b. If Selling a Home, it is worthwhile to have a Base Flood Survey done as well to help ease the mind of a potential buyer if you are in a flood zone or not, if there was some past flood damage. If you are close to flood area, ever flooded or in a flood zone, you should seriously consider having one done as it may scare some buyer's away not knowing what is needed for flood insurance.. Even if the survey comes back as being at or below the Base Flood Elevation, it still will help determine how much flood insurance will cost up front.
2. Flood insurance usually covers any damage caused by rising waters from rain, rivers, canals, drainage and similar events of nature.. Damage caused to a home's roof and then water damages the home would fall under regular home insurance, but check your insurance policy to make sure you are covered for what you need.
3. Flood insurance is only required by a Mortgage Company/Bank if the home is located in a flood zone. See flood zone maps page below. If there is no lien on the property, then you are not required to have flood insurance. If you do not live in a flood zone, but have a lien, you are not required to have it.
a. If Buying a Home, and that home is located in a flood zone, have your REALTOR check to see if the seller has done a Base Flood Elevation Survey and that will determine the Base Flood Elevation and the Home's elevation as far as how far the top of the bottom floor is above that flood level... Flood Insurance rates decrease the further above that mark you are. If a Seller has lived at that location for a long time through several area flooding event's, they will usually say and are required to disclose any past flooding as well.
If the seller doesn't have one, you can have a Base Flood Elevation Survey done as part of the inspection process or as part of a contingency on buying the home in your offer.
b. If Selling a Home, it is worthwhile to have a Base Flood Survey done as well to help ease the mind of a potential buyer if you are in a flood zone or not, if there was some past flood damage. If you are close to flood area, ever flooded or in a flood zone, you should seriously consider having one done as it may scare some buyer's away not knowing what is needed for flood insurance.. Even if the survey comes back as being at or below the Base Flood Elevation, it still will help determine how much flood insurance will cost up front.
Darrell Driskell - REALTOR
Licensed by the Louisiana Real Estate Commission
210 Dr. Michael Debakey dr.
Lake Charles, LA 70601 USA
OFFICE: 337-436-6639
CELL: 337-309-1858
FAX: 337-436-6630
Latter & Blum is Independently Owned and Operated - ERA Powered
Licensed by the Louisiana Real Estate Commission
210 Dr. Michael Debakey dr.
Lake Charles, LA 70601 USA
OFFICE: 337-436-6639
CELL: 337-309-1858
FAX: 337-436-6630
Latter & Blum is Independently Owned and Operated - ERA Powered