Flood Insurance In Minot North Dakota
There are a lot of misconceptions going around about flood insurance in Minot North Dakota. I hope the following will help some people understand better what is actually happening in the Mouse River Valley of Minot North Dakota.
Rates have not increased since the flood of 2011. Here is my most recent Flood Insurance Statement:
You can see My home is insured for $200,000. and it's contents as insured for $80,000. My annual premium is $429.00.
When I moved to Minot and purchased a home 2 blocks from the river I wanted flood insurance, it was not mandatory. Because it was not mandatory my agent thought I was nuts and I literally had to talk him into selling it to me. $429.00 was cheap peace of mind to me and it certainly paid off big in 2011 when my home and belongings were a total loss.
There have been stories that flood insurance could jump to $10,000. a year, that's just total BS. I have been in contact with my Senators and Congressman as well as keeping up with all stories in the paper. According to Senator John Hoevan's office the worst case scenerio looks to be an increase of premiums at 16% a year until the premium doubles. I can tell you that even if my premium doubles to $858. a year that it will still be worth the peace of mind.
I need to throw in a disclaimer here. No one knows for sure what the government will do. The flood happened over 4 years ago and new flood plain maps have yet to be drawn. Four years have gone by and we have not seen the City take action by raising, or even repairing the dikes from the last flood. We have heard our government swear that "this plan will lower everyones health care costs and premiums" and we have all heard "I'm from the government and I'm here to help you".
WARD COUNTY NOTARY SERVICES
ROBERT L. TIMM, OWNER
201 Main Street South, Suite 116
Minot North Dakota 58701
Call or text 701-720-8513