When purchasing in a flood zone, can you get liability insurance.

Last week I was in a flood zone class and the instructor did mention that new clauses have come up to avoid paying same properties multiple times. Many grandfathered clauses have been revoked. I remember he mentioning that you just have to pay higher premium but it is insurable. I am wondering what was the reason given for not getting insured?

Chris
Coldwell Bankers
www.ChrisRealEstatePro.com
832.859.8698

When you say the house can not be insured, is it due to damage pending repairs? Location?
Have you been quoted through Texas Fair Plan? They will insure what other companies will not as they are State.

I am also an Insurance Agent. If you still need assistance, please don't hesitate to reach out to me. I quote through various companies.

Sincerely,
Candace Dolan
Realtor/Insurance Agent
713.653.4769

You mentioned your house is not insurable, please expand. I have purchased house that had flooded and that were in flood zone.
I am familiar with the risks and pitfalls and have worked with an experienced insurance agent on these cases.
There are many details to go over, let's address it privately at your convenience, give us a call for a free consultation.

Hi Brian!

You mentioned wanting to obtain flood insurance, but also mentioned that the property is not insurable. Is it not insurable from a hazard insurance prospective? If so, what is the reason given? Some carriers may have specific requirements that can be cured (roof isn't insurable, but replace the roof and you can receive coverage; tree limbs must be cut back; etc.) and sometimes it's a matter of certain carrier (or multiple carriers) that is not writing policies in the specific area for the subject property and you will just have to find a carrier that is writing. I had a client once that wanted to use his current insurance company for his purchase of another property. The company wrote in Houston, but not in The Woodlands where his purchase was located. The reason - too many trees. Now, I've never heard of this before from any insurance carrier and never had an issue with any other client. Come to find out, it was a few specific carriers that simply weren't writing in Texas any longer. He went with another company and all was good!

As an aside, it's extremely important to get your insurance confirmed during the Option Period. This Period is specifically for conducting due diligence. Many people automatically think of it as the inspection period, but insurance should not be left out. Worse case would be finding yourself within days before closing and find out that the property is not insurable.

I highly recommend reaching out to Susan Gonzalez with Liberty Mutual! She is my insurance agent of choice. She is trust worthy, has a quick response time and premiums are competitive.

Susan Gonzalez
Lead Sales Representative
Liberty Mutual Insurance
Direct Dial: 281-364-1090 Ext 59246 Cell: 832-339-3243
susan.gonzalez@libertymutual.com

Yes, you can get liability insurance on a home in the flood zone. It is usually included when you purchase your homeowners insurance. Homeowners insurance is a package of coverage that protects against fire and wind damage and includes liability. You can also purchase a separate liability policy.