Comments on: Don’t Wait for the Flood http://advancedpersonalfinance.com/dont-wait-for-the-flood/ Moving beyond the basics Fri, 25 Jul 2008 18:28:56 +0000 http://wordpress.org/?v=2.2.2 By: Bucky http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20433 Bucky Wed, 12 Mar 2008 22:25:27 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20433 @Joe: The term "100 year flood" is actually pretty misleading, because it sounds like it will only happen once every 100 years. Actually, it's defined by having 1% probability of flooding each year. Over 30 years, there is 26% probability of flooding (1-0.99^30). @Joe: The term “100 year flood” is actually pretty misleading, because it sounds like it will only happen once every 100 years. Actually, it’s defined by having 1% probability of flooding each year. Over 30 years, there is 26% probability of flooding (1-0.99^30).

]]> By: KMC http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20389 KMC Wed, 12 Mar 2008 15:12:50 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20389 I pulled that 26% stat straight from the FEMA web site. I see what you mean, though, about it possibly being misleading. That obviously wasn't my intent - I'm not trying to scaremonger, just share some surprising things I learned through my own experience. I pulled that 26% stat straight from the FEMA web site. I see what you mean, though, about it possibly being misleading. That obviously wasn’t my intent - I’m not trying to scaremonger, just share some surprising things I learned through my own experience.

]]> By: Joe http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20388 Joe Wed, 12 Mar 2008 15:06:41 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20388 See http://www.fema.gov/plan/prevent/floodins/infocon.shtm for specifics on NFIP. Your 26% stat seems to misrepresent. You should check your flood zone via http://msc.fema.gov to get the specifics by property location. Zone A, 1% chance. Zone B, 0.2% chance. If you're in Zone X, it means you have less than a 0.2% chance of having a flood impact your property. Also, be aware NFIP policies are limited in coverage. See http://www.fema.gov/pdf/nfip/summary_cov.pdf See http://www.fema.gov/plan/prevent/floodins/infocon.shtm for specifics on NFIP.

Your 26% stat seems to misrepresent. You should check your flood zone via http://msc.fema.gov to get the specifics by property location. Zone A, 1% chance. Zone B, 0.2% chance. If you’re in Zone X, it means you have less than a 0.2% chance of having a flood impact your property.

Also, be aware NFIP policies are limited in coverage. See http://www.fema.gov/pdf/nfip/summary_cov.pdf

]]> By: Should All Homeowners Buy Flood Insurance? » My Money Blog http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20379 Should All Homeowners Buy Flood Insurance? » My Money Blog Wed, 12 Mar 2008 13:23:26 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-20379 [...] When we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently this might not be the best idea. [...] […] When we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently this might not be the best idea. […]

]]> By: OnlineSnitch.com http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-21530 OnlineSnitch.com Wed, 31 Dec 1969 17:00:00 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-21530 <!--%kramer-pre%-->When we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently thismight not be the best idea. Virtually every home is in a flood zone Unless you live on the top of a mountain, just about any area is susceptible to flooding. Heavy rains can make instant rivers where there wasn’t even a trickle before. All it takes is for a big storm to come<!--%kramer-post%--> links from TechnoratiWhen we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently thismight not be the best idea. Virtually every home is in a flood zone Unless you live on the top of a mountain, just about any area is susceptible to flooding. Heavy rains can make instant rivers where there wasn’t even a trickle before. All it takes is for a big storm to come

]]> By: makemoneyfeed.com http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-25111 makemoneyfeed.com Wed, 31 Dec 1969 17:00:00 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-25111 <!--%kramer-pre%-->When we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently thismight not be the best idea<!--%kramer-post%--> links from TechnoratiWhen we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently thismight not be the best idea

]]> By: www.recession-watch.com http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-25112 www.recession-watch.com Wed, 31 Dec 1969 17:00:00 +0000 http://advancedpersonalfinance.com/dont-wait-for-the-flood/#comment-25112 <!--%kramer-pre%-->When we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently thismight not be the best idea<!--%kramer-post%--> links from TechnoratiWhen we bought our house, the lender said we weren’t in a flood zone so we didn’t need to buy flood insurance on top of our homeowner’s insurance. I figured if the bank isn’t worried about it, then I shouldn’t be either. Apparently thismight not be the best idea

]]>