Flood insurance

Couldn't find anything on this, so I thought I'd post.

We are in the process of looking for a home and we've found one we like. Unfortunately, the agent advised us that the house is in a flood zone and thus, we would need flood insurance.

I had heard from a friend whose parents live on the water that if a survey is done that shows the home is above a certain level, or farther away from the water, then flood insurance isn't needed regardless of whether or not the house is in a flood zone.

Can anyone confirm/deny this?

Thanks!

Re: Flood insurance

It is needed regardless of getting it surveryed. The bank will ask for you to still provide a policy.

Its called an "elevation certificate".

With an elevation certificate, it can provide info where the flood insurance can in turn have a premium decrease, Due to the higher level stated.

Average cost for a flood policy in a flood zone, $1200 and up.

With the elevation certificate, it can be $400 and up. Almost cut in 1/2 or more.

Cost for a surveryor is abot $400 plus.