Anyone who watched the news in the last week has seen the devastating floods in South Carolina. The governor said on the news that this was a once in 1,000 year flood.
Let that be a lesson to all of us in Florida. Flood insurance is a must. Many people who we help purchase a home in the area do not understand SW Florida insurance needs, especially flood insurance. They assume that because a home is not in the high risk flood zone and a mortgage company will not require them to carry flood insurance, that they are safe. As we can see from the incidents in South Carolina and other states along the Atlantic coast this week, that is not the case.
However, the good news. If one does buy flood insurance in a low risk zone such as the 500 year floodplain where much of North Port is located, or the X zone designated Out of Special Flood Hazard Area, the cost of FEMA backed flood insurance is quite reasonable. Much of Port Charlotte, especially the areas north and east of US 41 are located in the X zone.
My home is in the 100 year floodplain. I carry FEMA flood insurance and the cost is not unreasonable. While it is possible there could be a storm surge during a tropical storm or hurricane, I have not experienced a problem this far. While a flood would certainly be inconvenient, I have the knowledge that I am covered if needed.
Anyone considering a waterfront home where they can keep their boat should carefully investigate flood zones. Almost all waterfront, canal homes are in a flood zone. It is rare to find one that is not and the only ones I have found are a LONG motor to open water.
Flood insurance is a necessary evil. Please do not buy a home in SW Florida without carefully considering your insurance needs.