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I read here on an old post that you can choose not to get flood insurance. My mortgage broker tells me that is not an option. has anyone ever heard of that?
I live in ct and the mortgage bank is chase.

3 Thoughts on Mandatory Flood insurance?
  1. Reply
    A Hunch
    February 27, 2014 at 2:46 am

    Yes, there are areas that have mandatory flood insurance.

    I’m not in a flood zone but only 1 block down the street is.
    This is currently a GIGANTIC project going on, on my street to change the strom drains. It’s costs like $ 60Million and is being paid for with federal, states, county, city and water department funds. When the project is finally finished, the area will be removed from the mandatory flood zone map.

  2. Reply
    February 27, 2014 at 3:43 am

    You can choose not to get flood insurance if don’t live in a flood plan and if your lender doesn’t require it. If your lender does require it you’ll need to get the insurance. Also, if you own the home outright you don’t need any insurance.

    If you don’t agree that you are in a flood plan you can contact FEMA and try to get the maps redrawn.

  3. Reply
    February 27, 2014 at 4:32 am

    As long as you have no mortgage, you CAN choose not to get flood insurance.

    If you HAVE a mortgage, though, it’s written into the standard mortgage contract that if you are in a flood zone, you MUST buy flood insurance.

    So . . . you do that, by not having a mortgage. Pay off your house.

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