LBI New Jersey Flood Insurance Information

Dated: 05/06/2014

Views: 4745

Hurricane Sandy and Flood Insurance on LBI

Flood insurance rates are based on the property’s elevation above Base Flood Elevation or BFE. Generally speaking, the higher a property is above BFE, the lower the rate will be (up to 3 feet above BFE). On the other side of the coin, the lower below base flood elevation, the higher the flood insurance cost will be for a property on LBI. Special conditions will also apply when rating flood insurance costs, such as if the property has a basement (and believe it or not there are homes on LBI that have basements!), the number of flood vents in the foundation, if the crawlspace is below the grade of the property, and most importantly, the flood zone in which the property is located. Flood zones on LBI generally fall into an “A” or a “V” category. Most of Long Beach Island lies in an “A” flood zone which generally sees lower rates and easier building restrictions (for example, a block foundation is permitted in an “A” zone). A “V” flood zone on LBI will see more stringent building requirements, and  generally a higher flood insurance rate. In order to be placed in a “V” zone, the property must be suspected of sustaining a direct wave impact of a 3 foot or higher wave. For this reason, “V” zones are generally limited to the oceanfront and certain bay front areas. 

Latest Blog Posts

Historic Active Listing Count In The LBI NJ Real Estate Market

Historic Active Listing  Count in the LBI NJ Real Estate MarketActive Listings in the Long Beach Island Real Estate Market 2013-2018Long Beach Island Real EstateOne of the major issues facing

Read More

Understanding Listing Patterns In The Long Beach Island New Jersey Real Estate Market

Understanding Listing Patterns In The Long Beach Island New Jersey Real Estate MarketLong Beach Island NJ Real EstateThe LBI real estate market is rather unique in that there is a very definite

Read More

Its Pumpkin Picking Time Near You

Yep, it's that time of year again. The summer flew buy lightning fast (well, for me anyway)! Labor Day has come and gone,kids are back in school , the beaches while still some are open are way less

Read More

People Who Live In Glass Houses Should Buy Good Drapes

What does this mean? I have no idea; I just thought it would be a catchy headline to capture your attention. This is an open letter to people who are center and right leaning.WARNING: Important

Read More