flood insurance questions.

[coastal]

Maybe some of you Realtors in Florida or Louisiana can offer up some answers to my questions.

How good (or bad) are most flood insurance policies?
We have them here in Delaware but have not had a major storm (since 1962) to test them.

If a big storm comes through and levels your house do they give you replacement cost?

If a big storm comes through and removes your lot from the face of the earth will these policies cover the market cost of what the property (land + house) was worth?

Any other info on flood insurance you can offer up would be greatly appreciated.

[Goknights]

I have a dwelling policy. It doesn't cover the land. Luckily I'm high and dry and don't expect to have any flood worries. I have it for peace of mind just in case a category 6 or 7 hurricane pays us a visit..

I'm sure you can insure the land too if you want to pay for it.

[kyle422]

Most flood policies don't cover storm surge which causes most of the coastal flooding during storms. I would definitely check to see what type of flooding they cover.

[coastal]

Basically I'm just looking for someone decent (insurance company) to refer my clients to. I may get lucky and sell a $650K beach shack this week.

[Ryan Ward]

Coastal,

I might be wrong about this, but, I don't think that I am.

I believe that it doesn't matter who they get the policy from - they are all the same and regulated by the government and will cost the same. I have a guy that I use here in Atlanta (yes, sometimes we need it) and I will check in the morning to be sure...

It's just a matter of which company you decide to go with.