Getting Flood Insurance in the Avalon is not a problem. The Jordal Agency is great in the area and could help you out. The flood insurance is based on the home elevation amd should be around $500/year. The fire/liability will be $1,500 and up depending on home price. It is a very expensive area as I am sure you know so you replacements values will be higher.

Thanks, Greg. This has a $1MM price tag - Taxes are $7K and I just found out that insurance is another $7K. So while we might be able to swing the monthly mortgage payments, Avalon buyers should consider insurance before signing on the dotted line. I know that Deborah said that it is rare that insurance would break the deal. But, in this case, it's another $600 a month on top of the mortgage and taxes. It's making us reconsider taking the dive

Maryanne
Most of Avalon, with the exception of some beach front properties are in a flood zone. Go to the attached link to see if the properties you are interested in are in one. I know it is $100/mo for a $300k property where I am looking. In Avalon it will may be more due to the higher house cost.

There are fewer carriers who will write policies near the water. Flood insurance may be required if you are in a flood zone. While the costs are higher for shore houses, I wouldn't discourage one from pursuing a home near the shore. Real estate values are higher near the shore vs. inland also. Overall, you are going to pay more to live by the shore. I would encourage you to get quotes from insurance carriers and look at what your total costs are for the property, taxes, and insurance before making a decision. Overall, I have not found insurance costs to be the primary reason one opts for inland vs. shore. I have seen buyers determine that they will trade a shore location for a larger home inland where their $$ will secure them a larger or newer home. Take all factors into consideration and make your decision based on the entire expense and whole picture.

There are many insurance companies that no longer insure homes within a certain distance of the ocean (can be 1 mile or more). My parents are a few miles from the beach and had to switch insurance companies. State Farm has standard home owners insurance within a relatively close distance. Most homes within 500 or 1000 feet are more difficult and therefore expensive. You should contact a number of agencies to get specific estimates as it may affect your purchasing decision.

Feel free to contact me for more information. I don't make money for referrals, just my inspections.

Rafi Footerman
Mid Jersey Inspections
732-906-4100
NJ Home Inspector Lic. #076900

In my area of The Hampton's NY, the cost of waterfront insurance is always much higher than inland properties. Also,it is now federal law that you must purchase flood insurance to be covered in the case of any weather related flooding. This federal insurance is a rider to your current homeowners policy and it is usually inexpensive to purchase.

You may need flood insurance. That can be costly. Check with your Realtor as to whether or not the property you are interested in is in a flood zone.