I thankfully looked at a CONDO's listing and noticed it stated it was in the VE zone.
Up until I noticed that I kinda liked it.?ÿ?ÿ
I'm not familiar with what exactly that means since I don't do any coastal work.
Does anyone here understand what is created insurance wise with a building in the VE zone.
I saw it and figured to x out that CONDO from consideration.?ÿ
No expert but I believe...VE = 1% annual chance of flooding, BFE established, additional hazard from waves (V is for velocity)?ÿ
Sure, higher flood insurance rates, which will be reflected in your monthly condo fees. Coastal flooding in the VE zone is influenced by astronomic high tides, and storm surges. Get a hurricane running through at the same time that the moon and sun are aligned, and you have a recipe for serious flooding.
@mightymoe
I met the regional CFM and asked some questions on a weird floodplain.?ÿ We went back and forth and she finally said, "Hey, you know a lot about floodplain."?ÿ To which I replied, "Well, I am a CFM but I only know half the regulations.?ÿ The trouble is the half I don't know contradict the half that I do know."?ÿ Her comment, "Isn't that the truth."?ÿ It is a cumbersome set of rules complicated by State, Regional and Local rules.?ÿ?ÿ
VE zones - velocity zone with a base flood elevation - V zones are defined in one of the following - wave heights exceeding 3', wave splash zone, channels exceeding some velocity and PFD - Primary Frontal Dune.?ÿ I think there is one more too but the most common is the wave height over 3'.?ÿ?ÿ
You were wise to run.?ÿ Most houses within the VE Zone are more likely to flood in lesser storms.
I was also wondering if a VE zone would face the same type of insurance rate as an AE zone, it seems like a different thing. One is water building up fairly slowly and one faces waves sliding up to the foot of the building. It's difficult to find data. In any event I'm not going to buy something in a flood zone.
@mightymoe
Oh no... VE Flood rates exceed AE.
The highest I have seen in the AE are just over 10k per year.?ÿ The highest I have seen in the VE is 38k per year.?ÿ That would be for the standard 250k damage and 100k content policy.
Run.
A considerable amount of my work is on the coast in local beach towns. I always read VE as Wave Action as that is how my most respected mentor taught me to read it 30 years ago. I would never want to own a structure much less live in one that could be subject to the force of waves slamming against it. I grew up surfing and fishing in the ocean. I have a ton of respect for the amount of force a wave can exert. Wind is enough of a concern in my area. I don??t need to add flood waters and pounding waves to that list.?ÿ
Having said that- I just sent out a quote for an Elevation Certificate for a house in a VE zone. So there are plenty of people willing to take the risk and I am thankful for their business.?ÿ
@bushaxe?ÿ
I hope their premiums are sky high.?ÿ It bothers me seeing situations where I am, where the owners are reluctantly paying for flood insurance because the old archaic map says they're next to a stream that is subject to flooding.?ÿ But the stream had been re-engineered in the 60's, and is now underground, but somehow it's not reflected in the maps that were done in the 80's.