Home Buying in Manasquan>Question Details

Lisa Murray, Home Buyer in Belmar, NJ

manasquan flood insurance

Asked by Lisa Murray, Belmar, NJ Sun Jun 23, 2013

I am looking to purchase a summer home in manasquan. According to the newest elevation maps the house will not need to be raised. Can you let me know if it is tough to get homeowners/flood insurance and average annual cost?

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It's not difficult at all, if the house is not in a #flood zone. If it is and an #elevation certificate proves the house is above the new elevation as provided in last week's updates, your policy should not be too expensive. One insurer told one of my sellers that if he does not elevate, the most an insurer can raise you is 25%/year for 5 years of the current policy charges. Also keep in mind that if the current owners have flood #insurance, the policy should be transferrable to any buyer through 10/31/13.
If you need specific information, try Kathy at Hawes McAffee in Manasquan at 732-223-0109. She is excellent!
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Mon Jun 24, 2013
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