OK, I have cooled down some....
I have had insurance for $355 a year since 8/07 (house completed 6/17). This is the preferred rate for zone X. It went two years with no comment, then I got a letter saying the carrier had changed but coverage was the same. Then the date of the renewal got close last year and I had not heard anything from the insurance co. I called and they said I needed to "recertify" the information. I sent them a copy of my survey showing the house NOT in the flood zone and they renewed the policy.
I asked what the rate would be if the house was in zone A and the answer was "more than 4 thousand". I checked rates today on the internet and it appeared for house and contents the rate would be $2700, but only $1700 for house without contents. Thats for $250K maximum coverage, which would be just about what the house could be rebuilt for right now (but probably not 10 years from now).
I fired off a letter to my congressman Ralph Hall, whom I have supported my entire voting life. I was much more civil than the tone I have shown on my rant in this thread. I doubt I will hear anything other than a thank you for the letter and that they will look into FEMA and blah blah blah.
I don't blame the lender at all. What I don't understand is why should I have to pay to do the job FEMA should have done? If I built where I did because of the incorrect maps they provided why do I now have to pay for their error?
I did more research and it does appear that perhaps I could be grandfathered on my rates as I have had uninterrupted coverage since 8/2/07 and the map change was effective 9/29/10. I just don't have confidence FEMA is going to do the right thing based on the conversations I have had with them so far.
The house was placed based on two things: First, it was the obvious high spot although near the creek (which is why I got flood ins although I can't see it ever getting that high). Second, the surveyor drew the FEMA lines on my survey based on the measurements from their maps. No elevations were done because there are no points of reference. They would have to survey from my place to miles away to figure out how much higher it actually is to what they call the flood zone. Not only did we build outside that zone, but we put about 36" of fill and built on that. The problem is the cost of the engineering required to accompany the form to be submitted to FEMA to get them to change the map on my property.
You can bet that I will in fact use this information at my next property tax hearing. So what if I get the value way down, then when I'm old and need to sell out I will have a real hard time selling a flood zone property that the county has acknowledged is not worth much.
