Can anyone provide a cost estimate for flood insurance in the Rotonda West area. Let's say a 250k house in a flood zone and the same house

Asked by Jim Bliss, 44889 Tue Mar 9, 2010

outside the flood zone. Are elevation certificates readily available to potential buyers in the Rotonda area? Are these rates for non resident owners as well?

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Tammy Hayes, Agent, Port Charlotte, FL
Sun Oct 17, 2010
Shop and compare insurance rates in Florida.

Homeowner’s Insurance—http://www.shopandcomparerates.com/HOCompareRates.htm
0 votes
Kelly Reark…, Agent, Boca Grande, FL
Wed Mar 10, 2010
Nearly all of the Cape Haze Peninsula (which includes the Rotonda area) is in a flood zone. The main difference for cost will be the base elevation of the home and which flood zone the home is located in. Your flood insurance with $250,000 coverage can range from less than $400 to more than $3,000 depending on these factors. If you have a specific property address in mind, you can get a general idea of what the flood zone is from http://www.floodsmart.gov. You can also read about flood coverage and risks.

Local surveyors offer elevation certificates (usually between $150 and $250). Turnaround time right now is about 5 days, depending on the surveyor.

A couple of things to keep in mind: 1) Ask your agent to request a copy of the Seller's elevation certificate. Sometimes you can at least look at the existing certificate to get an idea of the flood rate. 2) You will need to get flood insurance if you are getting financing. 3) Ask your agent for the phone numbers of a couple of local insurance companies. Often a local insurer can give you a better idea of what your rate may be based on other homes nearby that they carry the insurance on.

Remember, flood insurance is only one part of the picture. Flood insurance covers rising water only. Damage due to wind-driven rain and other water damage, such as that from a faulty hot water heater, are covered under your Homeowner's and/or Windstorm policies.

Kelly Reark, e-PRO, TRC
Gasparilla Properties Inc.
http://www.BocaGrandeRealEstateNews.com
Web Reference:  http://www.floodsmart.gov
0 votes
Mark Nellans, , Lee County, FL
Wed Mar 10, 2010
Bernita is correct about the elevations cert. Keep in mind the rates are done by FEMA you can shop twenty agents and you will get the same rates. One thing I would disagree on is even if you are NOT in a flood zone why would you want it...... ALL of Florida is in a flood zone, it depends on how much of risk you have. 25% of flood claims paid were to homes that "were not in a flood "
0 votes
Bernita (941)…, , Englewood, FL
Tue Mar 9, 2010
The cost of your flood insurance is also determined by the elevation. A certificate of elevation is done by the survey company. If you are outside the flood zone why would you need flood insurance? Any insurance agent can give you the cost and it doesn't matter if you are a resident or non resident. .
0 votes
Alma Kee, Agent, Tampa, FL
Tue Mar 9, 2010
Try calling AAA. They offer low cost insurance and excellent service.
0 votes
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