Flood zones / insurance

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southwest_stacker
Posts: 193
Joined: Mon Feb 07, 2011 1:29 am

Flood zones / insurance

Post by southwest_stacker »

Anyone know much about flood zones / insurance? I bought a house in 2010. At the the time the lender determined it was not in a flood zone and flood insurance was not required. I have the flood certification showing this. The certification is based off a 2007 map.

In 2011 I refi'd and the lender said I was in a flood zone and needed flood insurance. I tried to tell them we were not and that we live on 7 acres and part of the land is in a flood zone but the house is not. We ended up buying flood insurance to satisfy them and then a month later they sent me a letter telling me that the determined my house is not in a flood zone and that the insurance is not needed and we canceled the policy.

We are looking at another refi and the lender is saying yes we are in a flood zone and we need the insurance. I told them I have already been through this and even forwarded them the documents from the previous two determinations. They are sticking to their guns saying I am in the flood zone and there determination is based on the same 2007 map. It shows about half my land in the zone and half out. I looked at the map and to me the flood zone is close to my house but my house is not in it. Even if it was the area where my house sits has been built up 2-3 feet and is easily the highest ground on my property. Our land is basically flat farm land with maybe only a foot or two elevation change on the place other than the mound my house is sitting on.

Any ideas? Seems to me the company that did the first flood certification in 2010 should defend their certification for me or be liable or something if they are wrong. I seriously doubt my house would ever flood because the way it is built up but still I would have not bought the property in the first place if it was in a flood zone as that hurts your values.
user5027
Posts: 971
Joined: Sat Jun 16, 2012 8:54 pm

Re: Flood zones / insurance

Post by user5027 »

I would talk to a local Professional Land Surveyor (PLS). It was 1984, but I recall a PLS did a certification for our home and determined the first floor elevation. They used a nearby (1/8 mile) USGS Benchmark.
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3CT_Paddler
Posts: 3485
Joined: Wed Feb 04, 2009 4:28 pm
Location: Marietta, GA

Re: Flood zones / insurance

Post by 3CT_Paddler »

PM sent.

I have helped out a couple other board members who had questions about floodplains in the past, and I am more than happy to look at an area for a fellow Boglehead.

Edit: Just wanted to add, that sometimes areas that were not previously mapped, get mapped. For instance, in some counties, they only map up to a certain drainage area, and then later on they go back with more detailed maps and map further upstream. So people previously not in a floodplain, are suddenly in a floodplain. In theory, those homes in the new floodplain, were always at risk of flooding, but only with the new map was the risk realized by FEMA.

As far as the insurance company goes, that is not something I deal with, but you should be able to pull a Base Flood Elevation (BFE) off of the map, and then get survey of the lowest adjacent grade of your structure (Basically the lowest point of the existing ground where your house sits).
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