[Neighbors] Thoughts re flood insurance

[Jim Barrera via Neighbors_nobhill-nm]

Jim B.,

Both the City of Albuquerque and Bernalillo County have interactive FEMA
Flood Insurance Rate Map (FIRM) information available online:
     http://www.bernco.gov/public-works/floodzone-information.aspx
     https://www.cabq.gov/gis/map-views/fema-flood-zones-2012

Here is a print of the map that covers the Nob Hill Neighborhood (35MB):

http://ash.bernco.gov/GEOCORTEX/Essentials/REST/virtualdirectory/FIRMPanels/35001C0353H.png

The upshot is that Nob Hill is mostly high & dry (we are a "Hill", after
all).  The flood mapping shows that the 100-year flood (i.e. the flood
having a 1% recurrence chance in any given year) will flood a few streets
in spot locations.  The most notable is the historic Campus Wash that runs
through our neighborhood from Zuni & Washington toward Morningside Park,
across Central at the dip near Hermosa/Solano, then along Campus Avenue to
the big inlet into the North Diversion Channel at Campus & Girard.  The
100-year flood is mostly contained in the street, but the map shows that a
few properties near Silver & Aliso are impacted.  The rest of the
neighborhood including Lomas & Solano is "Zone X", areas outside the
100-year flood, but which may be impacted by the 500-year (0.2% recurrence)
flood.

So the question is what would be your losses if a >500-year storm hit and
you got up to a foot of water in your house?  Maybe $30K in damaged
furniture, possessions, carpet, drywall, etc.?  Multiply that by the annual
risk 0.2% = $60 of "risk" per year.  Does anyone offer a flood insurance
policy for just $60 per year?

Note that our risk of a damaging earthquake in Central New Mexico is also
in the ballpark of around 0.2% per year.  In a single-story wood frame
house, you might lose your dishes, but if you're in an older adobe house
you might be more concerned.

Good luck.
`jimb




On Sat, Sep 9, 2017 at 10:37 AM, JRB via Neighbors_nobhill-nm <
neighbors_nobhill-nm at mailman.swcp.com> wrote:

> Hi All:  Happy Saturday.  It is coming time to renew my home insurance
> coverage, at a cost of about $1,000 per year.  With all the weather news, I
> checked my existing coverage  and learned that my coverage excludes flood
> damage.  As a matter of fact, in reviewing my policy it seems that more
> items are excluded than are covered.  Typical insurance situation.
> Question is: living here in Nob Hill  (Solano/Lomas) what are the general
> thoughts as to whether flood coverage should be maintained, or is the flood
> risk so remote that such coverage would be a waste of money.  Not sure what
> the additional cost would be to add flood coverage to my existing policy.
> Thoughts/comments appreciated.   Have a great weekend. Jim
>
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