Candice A. Donofrio, 928-201-4BHC (4242) call/text (Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker)

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Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I thought Californians have siphoned all water out of Colorodo River?

Dec 13, 2015 01:35 AM
Rainmaker
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Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Candice - Well I am going out on a limb and say that you will not drop your flood coverage. I was always taught it is better to be safe than sorry.

My thinking is that your insurance may go down since your home has been removed from Floodplain A, and would hope that is the case.

Dec 15, 2015 06:23 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

So your lender has a crystal ball??!! 

Dec 13, 2015 10:40 PM
Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Good call on your part. 

Dec 13, 2015 08:43 PM
Rainmaker
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Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

I think you would be smart to keep it.

Dec 13, 2015 07:26 PM
Rainmaker
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Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Nope!

Dec 13, 2015 06:17 PM
Rainmaker
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Candice. We own an ocean front home, if I could I would take off the flood insurance.

Dec 13, 2015 05:01 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not everyone needs to carry flood ins.  There are homes that are in no way in dange of flooding.

Dec 13, 2015 11:03 AM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It is a good idea to keep it if you can afford it especially if you are on the fringes. And you are right, you never know what the future will bring.

Dec 13, 2015 10:34 AM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

This is a personal choice and should be based on the local history of flooding.

 

are you a gambler?

Dec 13, 2015 10:18 AM
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Candice, you are smart to keep your flood insurance. 

Dec 13, 2015 09:51 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Flood plain insurance is often a bad investment that is force on many to satisfy government requirements on the lenders.  And sometimes when the floodwaters come the insurance companies are nowhere to be found.

It may be better to take those fees and put them into a nice investment that you can tap into should a flood ever take out your home. And if a flood never hits then you will have a nice chunk of cash to add to your retirement fund someday.

 

Dec 13, 2015 09:38 AM
Rainmaker
212,319
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

I would also keep it, if you were in a flood plain before, chances are all it takes is that one storm to get a flood again.

Dec 13, 2015 09:08 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm with you, I'd keep it.

Dec 13, 2015 07:46 AM
Rainmaker
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Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

As I always say in answer to questions like this, "because I don't want to be THAT woman on the news crying about losing everything and having no insurance."  Over $300.  

Dec 13, 2015 04:11 AM
Rainmaker
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FN LN
Toronto, ON

Based on your own answer to your own question, I don't think you will drop your flood coverage.

Dec 13, 2015 04:02 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I, too, would have made the decision to keep that policy....

Dec 13, 2015 03:43 AM
Rainmaker
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Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Agreeing with you and others, it's a reasonable price to pay for a piece of mind.

Dec 13, 2015 03:43 AM
Rainmaker
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David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Candice, last I looked and from experience in Houston, about a third of claims come from properties that have never flooded before. I would tend to keep it.

Dec 13, 2015 03:33 AM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

If I remember there are options on flood insurance for coverage if you are not in a flood plain.

Dec 13, 2015 03:27 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Smart move, Candice.  It's one of the best and cheapest insurance policies available.

Dec 13, 2015 03:23 AM
Rainmaker
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Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

FLOOD plains arent installed or removed without reason, but its a numbers game to some extent... and a understanding of the landscape, cost benefit... thin more like your a buyer and that money means a monthly payment ??

Dec 13, 2015 03:21 AM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

I bet the cost factor is enticing isn't it? Better to keep it I guess. 

I would wonder why you were removed & if that was even correct. What if your rates would go down? 

Dec 13, 2015 03:08 AM
Rainmaker
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Wise choice, Candice.  It should be a plus, though, if you should ever decide to sell.

Dec 13, 2015 02:38 AM
Rainmaker
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Debra Peters
Referral Realty - Manorville, NY
NY Real Estate Salesperson

If you can afford to keep it, don't get rid of it. I would also want to be sure of the deductible and if there any hidden clauses as to what is covered and what is not.

Dec 13, 2015 02:38 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Candice,

I would not stop it.  

Dec 13, 2015 02:10 AM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

No --- that was easy since you already told us.   Stay dry.  

Dec 13, 2015 01:32 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No. I agree with your decision not to drop the flood insurance.

Dec 13, 2015 01:27 AM
Rainer
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Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

I agree, small price to pay for piece of mind. I had earthquake insurance when in lived in GA, just in case.

Dec 13, 2015 01:22 AM
Rainmaker
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Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I wouldn't drop it either.

Dec 19, 2015 11:13 AM
Rainmaker
679,454
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I learned something interesting I did not know. The lender required flood coverage is not necessarily the coverage you might want. The lender's only requirement is replacement cost of the structures. THIS DOES NOT INCLUDE CONTENTS. So to rewrite the policy to include contents will be more, but not a lot more. Check your policies . . .

Dec 15, 2015 06:37 AM