Flood Insurance surcharge

Started by JimD17 • 1 replies • 1360 views

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JimD17 (South Carolina)
Posts: 15

Posted:

Our Hoa pays premium for flood insurance. Hoa consists of mainly duplexes. FEMA wants to charge $250 surcharge on each duplex as each has its own policy. Some units are rentals and some are personal residences. Would like to know if anyone has had this issue as personal main residence surcharge is to be only $25.

JohnB26 (South Carolina)
Posts: 1,001

Posted:

you own property in a flood plain

by choice

pay your own way for insurance w/o taxpayer subsidy

or

take your chances and 'eat' any loss

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