Flood insurance RE property

[Dimitri Paspalaris]

Getting ready to close in two weeks on my first property. Do yal reccomend flood insurance? The property is .5 miles from the st johns river. It is zoned as flood zone x. Thanks for the help.

[John Mocker]

Dimitri,
The Flood Zone does not indicate whether or not you will flood. It is FEMA's assessment of the chance of flooding happening. Normally the Banks in our area do not ask for Flood Insurance for a C, D, or X zone.

That does not mean you should not purchase it, only that you do not have to. Every year floods happen in areas that do not require flood insurance. The good thing, if you chose to get flood insurance anyway, is that the rates will be much less than if it was in an AE or V zone. If you choose to get the coverage, I would advise shopping it both with a FEMA National Flood Insurance (preferred risk policy) and the Non-FEMA (private market) flood policies.