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Updated over 4 years ago,

User Stats

22
Posts
6
Votes
Steve Genna
  • Rental Property Investor
  • Brooklyn, NY
6
Votes |
22
Posts

Flood insurance is messing with my numbers!

Steve Genna
  • Rental Property Investor
  • Brooklyn, NY
Posted

Hi BP Community.  I have a potentially good deal in Bridgeport, CT however the property (may) require flood insurance.  I say "may" because the description of the property lists a price for flood insurance (which I suspect is low) however I am still awaiting confirmation from listing agent.  I recall obtaining a quote for flood insurance years ago on another property nearby and having sticker shock (I think it was over $4k/yr) at the time.  The appeal of this deal starts to fade when incorporating flood insurance into my calculations.  

As a novice to flood insurance, is there any recourse to remove this requirement from the property?  Does anyone have experience/leads/resources for obtaining cheap flood insurance in CT?  Any advice is welcome.

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