Flood insurance for investment properties?

4 Replies

Just curious with everyone's thoughts on this matter. People who have investment properties in Jax do you have flood insurance? Is it expensive? Is it worth it? In California we have earthquake insurance but personally I dont know anyone that has ever opted to get it considering how expensive it can be. Just wondering if this is kind of the same issue or not considering the hurricanes. 

@Sean Harris if the property is in a flood zone, your lender will require flood insurance. I have a rental in an AE zone, and pay about $800/year for flood insurance

A federally backed mortgage will require insurance unless the property has previously had a removal letter. You can pull the address on fema msc and check. Since I'm a surveyor, it's easy for me to check a house to see if I can apply for removal. Flood zone properties can scare off the competition. Don't just rule them out without completely.

Clint

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