After all my whining, my angst, my frustration, my stepping out on to the ledge, it all came down to this: Step 1 Call a local independent insurance agent. (Note: It helps if it's a friend.) Step 2 Describe the issue. (Hint: Do not let someone in the throes of whining, angst, frustration or suicidal tendencies do the talking.) Step 3 Write out a check.
I still don't get it. You may have to enlarge these images by clicking on each, but if not, I will try to note the important sections.
Page 1 (of 1) (Top arrow) Box is checked; 'Flood Zone' is its heading. Bottom arrow--'No' is checked. Heading asks "Is Building in special flood hazard area (Zones beginning with letter 'A' or 'Z'?)
Page 2 (Written by Harleysville Mutual Insurance Company)Top arrow--Estimated Replacement Cost $417,000
Middle arrow--Building and Contents Coverage Combination--$250k for building
Bottom arrow--"B0 Is the building located in a special flood hazard area on a flood hazard boundary map, or on a flood insurance rate map zone A, AB, A1-A30, AO, AH, A99, V, VE. V1-V30, AR Ar dual zones AR/AE, AR/AH. AR/AO, AR/A1-A20, AR/A?" (X) No is checked.
So, in conclusion, if I'm reading this right here's the summary. We bought flood insurance on the constuction site for $388 yearly premium. This covers a house, which is not yet there, up to a maximum of $250,000 despite the fact that its replacement cost will be $417, 000. Furthermore, this proposed house is NOT on a flood plain, nor in any of the various zones contained by a flood plain.
So, in conclusion, if I'm reading this right here's the summary. We bought flood insurance on the constuction site for $388 yearly premium. This covers a house, which is not yet there, up to a maximum of $250,000 despite the fact that its replacement cost will be $417, 000. Furthermore, this proposed house is NOT on a flood plain, nor in any of the various zones contained by a flood plain.It is in no danger of flooding as determined by the DNR; is regulated by Federal dams at both ends, which are approximately 20 miles apart so that the water level varies only by an inch or two.
These dams are tested yearly, unlike state dams, to verify their ability to do what they are supposed to do.
BUT OUR LENDER IS REQUIRING FLOOD INSURANCE. So we paid the bribe.
Are we done? Oh, I don't think so. I will fax these copies to our lender and await his determination. At that point the next chapter will begin.
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