What actually drives flood insurance costs on a Sarasota area property?

What actually drives flood insurance costs on a Sarasota area property?

Your FEMA flood zone designation is the single biggest factor, since Zone X inland properties often pay under $900 a year while Zone AE waterfront properties run $2,500 to $5,000 and Zone VE barrier island properties can reach $8,000 or more annually. Under FEMA's Risk Rating 2.0 system, pricing is now based on the specific elevation and characteristics of each home rather than a flat zone average. An elevation certificate can meaningfully lower a quote, so it is worth obtaining before listing or purchasing. Every parcel's zone can be checked on the FEMA Flood Map Service Center.

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Michael Graf

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