Cypremort point flood insurance help

[Trout rivers]

Does anyone on here have camps down there and if so what's the insurance like any knowledge shared is greatly appreciated!

[Tonka337]

You'll first have to get an elevation certificate before you can get insurance. Sorry I can't help more than that, but you'll definitely need it first, then you can call for ins quote

[Trout rivers]

Thanks tonka ,I'm curious what quotes would be? I am just trying to find a ballpark number before I spend 500$ on a elevation certificate , if anyone knows please share

[jopete]

arm + leg.

[deek248]

Originally Posted by jopete

arm + leg.

And fisrt born

Sent from my SAMSUNG-SGH-I997 using Tapatalk 2

[mailreg]

I sell insurance and it REALLY depends on the elevation certificate. Without it you will not want to afford the premium. Example in Whiteville, La for a new house in a flood zone. No elevation certificate = $6500, with elevation certificate showing lowest level above flood level = $600. So really hard to say without elevation certificate and on the coast everyone is about to get hit REAL hard especially on older camps that wheren't built high enough. I'm talking some reasonable camps ($250K) having a $20K+ premium per year. This is national insurance so the government controls these rates not companies. Doesn't matter where you go the rates are the same.

[Trout rivers]

Alright thank you for the help ,stuff sure is getting ridiculous now days haha

[Raymond]

All an effort to push those building on the coast to self insure. It will soon be cost prohibitive to live in the coastal parishes if you are required to have flood coverage.

[fishwater]

All depends if the camps is pre or post firm meaning built before or after 1974. Post firms are usually cheaper but if rooms are build below the first elevated floor then there is very limited coverage. If you buy it read the 32 page policy because chances are the agent selling will not understand the coverages on the policy I deal with that all day.

[Raymond]

We never asked, is this an existing camp or new build? New will have to comply with all coastal building codes/elevation. Existing will probably have an elevation cert that can be transferred to new owner. One caveat, read disclosure and make sure they haven't had any flood losses. This has to be disclosed prior to purchase but I have seen one lawsuit where the seller lied. NFIP will not write coverage on dwellings with repetitive losses.

[Texxan1]

if by chance your building a new camp. You will get a 15% deduction on price for every foot (up to 4') above the BFE you build your house. So if you build new, build HIGH.

When I built my house in galveston after Ike, we built it 5.9ft above the minimum BFE and our flood insurance is $214 a year for a house valued at 240K. New NFIP does not cover anything downstairs except electrical and a 300sf space for storage....However, we have 1000sf enclosed downstairs consisting of a fishing room, shop for my wife and a huge garage.

NFIP is changing the flood maps, so be very sure of what the BFE( base flood elevation) has to be before buying an existing house, or building a new one.

[fishwater]

Yeah they will pay for flood loss clean up and mildewcide in an enclosure under the first elevated floor thats it. Then electrical boxes any plumbing attached to the home that is damage, the stairs leading up to the house and a 16 sf landing. Build it high and don't put anything underneath it if you do.

[Raymond]

Originally Posted by Texxan1

if by chance your building a new camp. You will get a 15% deduction on price for every foot (up to 4') above the BFE you build your house. So if you build new, build HIGH.

When I built my house in galveston after Ike, we built it 5.9ft above the minimum BFE and our flood insurance is $214 a year for a house valued at 240K. New NFIP does not cover anything downstairs except electrical and a 300sf space for storage....However, we have 1000sf enclosed downstairs consisting of a fishing room, shop for my wife and a huge garage.

NFIP is changing the flood maps, so be very sure of what the BFE( base flood elevation) has to be before buying an existing house, or building a new one.

Somewhat correct; flood yes you will get the discount, wind will be a multiple of 4 times what ground level would cost. Most of my companies stop at 10' bottom floor and don't want anything higher due to wind issues. Citizen is the only one who has to write in coastal zones and they make sure they get atleast one kidney and half a lung for the trouble.

[fishwater]

god i hate citizens especially the HO 1 policy holders

[Texxan1]

I was referring to FLOOD only..

I have no clue as to how wind works in LA.... I know on the texas coast.. They STICK IT TO YA, and then dont pay after a storm lol

Originally Posted by Raymond

Somewhat correct; flood yes you will get the discount, wind will be a multiple of 4 times what ground level would cost. Most of my companies stop at 10' bottom floor and don't want anything higher due to wind issues. Citizen is the only one who has to write in coastal zones and they make sure they get atleast one kidney and half a lung for the trouble.

[Trout rivers]

Thanks guys very helpful information and this would be existing built in 2006 I think

[spoony]

So if something flooded during hurricane ike and original homeowner collected flood insurance. If that beach house was ever sold the new homeowner would not be able to get flood insurance and if one cant get a loan without flood insurance then the new homeowner would have to pay cash.

Am i thinking correct here??

[Raymond]

Originally Posted by spoony

So if something flooded during hurricane ike and original homeowner collected flood insurance. If that beach house was ever sold the new homeowner would not be able to get flood insurance and if one cant get a loan without flood insurance then the new homeowner would have to pay cash.

Am i thinking correct here??

My girls take care of the flood in our office but if I remember correctly NFIP will only pay 3 flood claims before offering the buyout. Had 2 houses in Scott that flooded 5-6 times before they had to flood proof (1) or raze and elevate. Friend had a camp at larto that flooded every year, and got a check every year.