I know each home is unique but can anyone tell me roughly what to expect for annual flood insurance on a 300K home in Regency Park area?

Asked by jwh7610, Sacramento, CA Mon Nov 11, 2013

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9
Mike Schubert, Agent, Sacramento, CA
Mon Nov 11, 2013
you really must ask your insurance carrier. Flood insurance can range from a few hundred dollars a year to 5 times that depending on the property. There have been recent changes implemented by FEMA that will be causing flood insurance to rise in high risk areas such as North Natomas. Contact me if you'd like an insurance referral.
2 votes
John Lanting, Agent, Sacramento, CA
Mon Nov 11, 2013
As of 10/1/13, The annual flood insurance policy in Natomas is $489. Make sure to get a local insurance agent who has a copy of the elevation certificate of your home or the Regency Park area in general. This would save you paying extra for someone who would require it.

John Lanting
eTernity Realty
916-798-3225
1 vote
Ashley Willa…, Mortgage Broker Or Lender, Sacramento, CA
Mon Nov 11, 2013
The Natomas flood insurance is subsidized and everyone renewing with a policy after Oct 1st 2013 is paying $489 per year. Lenders and realtors in the Natomas area will be able to explain the nuances very well.

Ashley Sanchez
asanchez.teamvitek.com
916-834-5999
2400 Del Paso Rd
Sacramento, CA 95834
1 vote
Shelly Long, Agent, Sacramento, CA
Sun Nov 24, 2013
Hi JWH~

You can email this insurance agent and pose the question. He'll likely get back to you within an hour. He's definitely "on the ball" and he's who I recommend to all Buyers regardless of whether they want to buy in Natomas or elsewhere.

Darin Darr of Darr Insurance
Darin@darrinsurance.com

Please let me know if I can assist you futher~ Thanks!
0 votes
Courtney Edw…, Agent, Elk Grove, CA
Mon Nov 11, 2013
Depends on the area. I know in Natomas as 10/1/2013 the price is $489.00 . For more clarification check with your local insurance agent.
0 votes
Jim Walker, Agent, Carmichael, CA
Mon Nov 11, 2013
Here is a link for flood insurance rates.

http://www.floodsmart.gov/floodsmart
0 votes
Annette Law…, Agent, Palm Harbor, FL
Mon Nov 11, 2013
Jwh,
Even if we had the rate book in front of us your question could not be answered.
A 1963, $350,000 rancher will have flood insurance premiums 5x the amount of the 1.5 million dollar home next door if within the CCL. This will also apply to any home in the FEMA designated flood zone. As John disclosed, the elevation certificate is essential if in a flood zone.
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You do not state if the subject home IS in a flood zone. If not, the premium could be as low at $600 annually.
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As others have stated, those home in a flood zone are going to prove problematic.
In Sept of 2013 a home previously had a flood insurance premium of $2,400 annually. The new premium for the buyer was quoted to be $46,000! That resulted in NO SALE!
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What will prove accurate for you will be type and age of contruction, location and insurance carrier. Time to place a call to your home insurance company.
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Don't think for a minute the situation described is a Florida problem.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor FL
727.420.4041
Move to the Front of the Line (FirstLookHomes.us)
0 votes
Glad we don't live in Florida with those rates. California rates are subsidized and only applicable to those identified in a flood zone. Natomas is most likely a flood zone (don't know of an area in Natomas that isn't) and it's most likely $489. However, it's best for an insurance agent to answer...even with the rate book in front of you.
Flag Mon Nov 11, 2013
Jaime Becker, Agent, Sacramento, CA
Mon Nov 11, 2013
This is a question for an insurance broker.
0 votes
Steve Comfort, Agent, Walnut Creek, CA
Mon Nov 11, 2013
I've seen many folks estimate flood insurance at $1000 per year. However, why not just call your insurance company? Give them the address of the property you're interested in (or any property in the neighborhood) and they can quickly give you an exact number. Most insurance companies are happy to do this for you.
0 votes
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