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Updated over 5 years ago,
Existing Property in a Floodway - costs and what to look out for?
I am considering buying a property that has never flooded and current owner has lived there 15 years without Flood insurance. It is located in Houston TX and in a floodway (just outside of a Zone AE Floodplain) I'm not required to buy flood insurance but feel like it would be prudent to do so. My insurance agent is not reachable today but I wanted to make a bid. I can't seem to find any info on the web about costs of insurance in a floodway vs a flood zone and how those compare. Anyone here have any info on that by chance? I have no idea if I'm looking at 500 a year or more like 6K a year - really no idea. Also anything else I need to know about floodways aside from the construction restrictions?