You may have read the headlines about the new flood insurance legislation. Though recent legislation may delay or amortize increases, the end result will be higher flood insurance rates for all properies that lie below the flood elevation. This means that if you have a home with a floor elevation of 7ft and the flood elevation is at 10ft, then you wil pay for each foot below flood elevation, on average, about $1000/yr/ft below BFE (Base Flood Elevation). The result of this legislation has given rise to competition in the insurance industry also new construction and home lifters... yes some people have turned to elevating their homes above the BFE. Other options include SELF INSURANCE, wherein the property is not encumbered with a bank loan and the owner gets to pick and choose how much (if any) insurance they need. Some properties are so heavy on land value, that it makes no sense to insure older structures. Call me if you nee good references for insurance agents.