Property Q&A in Bradenton>Question Details

Luan Nguyen, Home Buyer in Bradenton, FL

How much total yearly insurance for this house? Is it in flood plain?

Asked by Luan Nguyen, Bradenton, FL Fri Jun 22, 2012

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This question is about this property: http://www.trulia.com/property/1033678621-6538-Lincoln-Rd-Br…

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Can someone tell me whats the typical flood insurance premium would be in the 43212 area code of Bradenton, Florida. Is this considered a high flood zone area? I know some areas can be 6k or more. Just a ball park figured will due...specifically the Subdivision: Old Grove At Greenfield Ph Iiib...Reagan Dairy TRL area. Thanks...
0 votes Thank Flag Link Fri Jan 30, 2015
I found an estimate figure BTW...

"Flood insurance can be inexpensive for low-risk areas. If you don't have a basement, the annual premium for a preferred-risk policy can cost as little as $348 a year for the maximum coverage of $250,000 for your dwelling and $100,000 for your possessions, or $388 per year if you have a basement. Similar coverage can cost $1,484 per year in a moderate-risk area, or more than $2,600 in a high-risk area."

Per http://local.kiplinger.com/Prepare_for_Storm_Season_with_Flo…

Luan
0 votes Thank Flag Link Sun Jun 24, 2012
Luan:

This house is already under contract with another buyer. You could put in a back-up offer in case the current deal falls apart. Your offer would not be submitted to the seller's lender unless the current buyer does not or cannot go through with the deal.

The house is located in a flood zone so yes, you would need flood insurance in addition to your homeowners insurance. Premiums vary from company to company.

If I can answer any other questions or help you locate a different house let me know.

Karen

Karen Nicolls, Realtor
Atchley International Realty
941-713-4204
0 votes Thank Flag Link Fri Jun 22, 2012
Thank you Karen. Can you give a rough idea of what typical total insurance is for such property? I am moving to the area in a few months and would like to have rough idea to budget.

In Florida, with a $1000 deductible, are we talking $1000/ year insurance for this house, or $2000, or...? Just a rough idea would help.

For example, in Minnesota, my previous house insurance is $700 with $500 deductible for a similar house.

Thank you.
Flag Fri Jun 22, 2012
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