Long Beach Island Flood Insurance

Dated: 06/29/2016

Views: 660

Long Beach Island Flood Insurance


Flood insurance is one of the most important concepts for buyers and sellers to understanding in the LBI NJ real estate market. There is a real cost to flood insurance which may be significant in some cases. While most homes on Long Beach Island are at or above base flood elevation (making their insurance costs low), there are still many important elements to understand before entering into a transaction in the LBI real estate market.


Long Beach Island Flood Insurance | LBI Flood Insurance Costs | LBI NJ Real Estate

Flood insurance rates are based on the property‚Äôs 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. Special conditions will apply when rating flood insurance costs on Long Beach Island such as: 

  • Does the property have 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 below the grade of the property

  • The flood zone in which the property is located.

Remember: The actual costs of flood insurance are nearly impossible to estimate exactly in the absence of a flood elevation certificate. This document, which can be obtained from a survey company, tells not only the ground elevation, but also any special conditions that will impact the flood premium on LBI. 


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