Factoid: the highest point in Florida is Mt. Britton up in the Panhandle of the state measuring a whopping 345ft. Average elevation for the state is 6ft. As a native San Franciscan who walked the hills of the city as a kid and as an adult, hiked the coastal trails and backpacked in the Sierra Nevada mountain range, this whole flood zone thing was new to me when I moved here in 2002.
What is a flood zone?: (cue cut and paste) : Flood zones are geographic areas that the FEMA has defined according to varying levels of flood risk. These zones are depicted on a community's Flood Insurance RateMap (FIRM) or Flood Hazard Boundary Map. Each zone reflects the severity or type offlooding in the area. Moderate to Low Risk Areas.
Bottom line is, if you live in what FEMA designates a High Risk Flood Zone and you purchase your property with financing, you WILL have to carry flood insurance. Cash purchase...it is up to you if you want flood insurance. Cost of insurance can run from $600 to $10,000 or more per year. If you're at $10k per year you're on coast or bay. Average cost is $1,300. Also, listen up....a house doesn't have to be on waterfrontage to be a flood zone.
How do you know if a property is in a flood zone and what type of zone? You can look it up on a FEMA flood map or ask your Reatlor and then confirm it with an insurance provider. That's what I do! Part of my due diligence is to check if a property is in a flood zone, which one and try to find an elevation certificate which may be on public file. Then I call my insurance guru.
More wonky stuff: base elevation in a house is determined by a finished floor, i.e. ktichen not the garage. So for instance, if FEMA says house is in a high risk flood zone with a minimum FEMA elevation of 8ft and we find an elevation certificate which says the base elevation of that house is 8.4ft, well you've just saved a bit of money cause the base is 4 inches higher than the minimum 8ft. 8ft and under, you'll pay more. Elevation certificates are also part of the survey (survey & EC costs about $450) which is a Buyer cost. If we can find an existing elevation certifacte then it may be re-certified....saves about $250.
For condo dwellers, i say that with the most respect - the association and or property management company will have an elevation certificate.
Last FEMA Flood Map change was made in 2008. Rumors are that changes/updates may be forthcoming.
Hope I didn't "flood" you with too much information!
