Home Buying in Palm Bay>Question Details

Tada48, Home Buyer in Palm Bay, FL

Is flood insurance a good idea fot 1486 SE depew St.,palm bay, fla?

Asked by Tada48, Palm Bay, FL Mon May 13, 2013

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It should come as no surprise, the entire state of Florida is an extremely low level area. Have you wondered why there are so many lakes? Well it's largely because developers needed this soil to elevate the areas around the lakes to minimize flooding potential...

With this said, I would highly recommend "flood insurance" regardless of the location in Florida. Do you wonder why banks mandate "flood insurance" on ALL financed property? Could it have something to do with the high risk factor for flooding?

Respectfully,

Bill
0 votes Thank Flag Link Tue May 14, 2013
The Home on 1486 SE Depew is currently under contract and is no longer available.
Btw, the home is not in a flood zone; but you still may want to consider flood insurance.
Please let me know if you need further information on any other home.
Phil Rotondo, Realtor
Coldwell Banker Residential Real Estate
Palm Bay, Fl
mailto:phil@321property.com
0 votes Thank Flag Link Tue May 14, 2013
Flood insurance is a preference unless the lender requires it. The flood zones have recently changed. A local home insurance agent would be more prepared to answer this type of question.
0 votes Thank Flag Link Mon May 13, 2013
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