My insurance company says that I don't need flood insurance but my mortgage company requires it, what do I do?

Your mortgage company ran a flood certification which came back that said your lot is in a flood plain. There are 2 types of designated flood plains by FEMA. One is a blanket designation that indicates your lot or a portion of your lot is in a flood plain, The 2nd acutally has elevations. If you are in the 2nd type, if your home is not in the flood plain either because only a small portion of the lot is in the plain or because the house is elevated above the flood plain than your lender should be able to get you out of the need for insurance.If you are in teh 1st type, the only way out is if your lender can prove your home is not in the plain.If they don't know how, find a new lender. If you situation is such that you can't get out, your insurance agent is wrong. Good luck!

Can you get a written explanation from your insurance agent as to why they believe it is not needed, and then forward that to your mortgage servicer for consideration.......Hope this helps.

Hi KClarke, You need to find out if you are in a flood zone or not. If you are in a flood zone and you get a mortgage on your home the bank is going to require flood insurance. If you insurance agent is telling you that you don't need it you need to ask him why? Some homes, while in a flood zone, sit at a high enough elevation that their property is not in danger of a flood. In which case you can have the property surveyed and get an elevation cert. Visit www.fema.gov for more information about flood insurance. Hope this helps.

You should be able to have a search done! A lender can not require flood insurance unless you are in a FEMA designated flood zone. Have your insurance company provide you a printout of what zone they say your in, then compare it to what your lender says.

Ultimately if your mortgage co requires it you will have to meet their requirements.

You don't NEED flood insurance if you don't have a mortgage. But if you have a loan- well... different story. Lenders all run your address through the federal (FEMA) flood map. If your home is in a flood zone, you need flood insurance. If you believe the map is wrong, there is a way to fight it. Other than that, sorry, all lenders will require the flood insurance. I'm in St paul, call me if you have questions.

If the lender requires it you may need to find a new insurance agent.

Yeah, I've com across this before and after having both a fema map from an appraiser and and one from the insurance agent the bottom line is the loan would not fund until my borrower got the insurance. They worked it out later and he got to eliminate the insurance. I suggest you do the same thing.