The flood-zone deal-breaker

Re: 'A real underwater threat for homeowners' (Nov. 19)

Dear Editor:

I appreciate your article bringing up the issue of flood insurance. Located in a coastal area, flood zones are plentiful here. In one transaction two years ago, we sold a house located in a VE zone (worst of the two evils) and the new buyers were quoted a $5,500 annual flood insurance premium! Imagine my surprise to see the increase -- when I had been paying $3,400 annually for the same flood coverage on the same property.

There is no question the flood insurance is a necessity to protect your investment; however, consumers should also make themselves aware of the extraordinary premiums insurance companies are charging without providing any additional coverage. In recent years, coastal property owners have been hit with wind and hail policies held separate from flood and homeowners insurance policies.

Buyers and Realtors should be aware when making an offer on a property potentially located in a flood zone. The information is publicly available and will help both of you avoid issues later in the transaction. In most cases, this can certainly be a deal-breaker.

Janet Lee Howard
Konter Realty Co.
Savannah, Ga.

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