Flood Insurance


Even though we live in the Ocean State, flood insurance has historically been one of the last in order of business in a sales contract. Now, it should be among the first due to the implementation of the Biggert-Waters Act of 2012. Starting October 1st, some properties that never required flood insurance now require it because the flood maps are being redrawn.  Additionally, the rates for all properties are increasing and some properties may no longer be covered.

A Barrington home seller recently had a potential buyer walk away from a contract due to the flood insurance estimate they received from their insurance agent. After reviewing the property and elevation certificate, they learned that the rate given to the buyer had been overstated.

Arming yourself with knowledge and knowing the right questions to ask can go a long way towards avoiding a similar situation with your own home. Flood insurance rates are property-specific and are based on certain criteria. To find out if a property is a new or existing flood zone, go to floodsmart.gov and type in the property address.  This will give a quick view of whether and what type of flood risk the property may have. In order to find out for sure, you need to get a licensed surveyor to conduct an elevation study and get an elevation certificate.  This will allow the risk to be assessed and an insurer to accurately quote the new flood insurance rates.  The next best thing you can do to be sure you’re covered correctly is to choose your insurance company wisely, there is a list of qualified insurers who are familiar with the new policy on thefloodsmart.gov website.

House of the Week:

160 School Land Woods Road  Exeter, RI 02822


This weeks featured property is a custom-built contemporary Colonial privately tucked away on over six scenic acres.  Uniquely designed spaces are highlighted by intricate millwork and architectural moldings. The first floor master suite features a sumptuous en-suite spa with coffered ceilings, granite counters, and relaxing whirlpool tub. Presently set up for dog kennels, this property could easily accommodate horses as well. This property is just four miles to Schartner’s Farm, a 150 acre agricultural center with a farmstand, greenhouse, and bakery. The home is also in close proximity to an array of nearby golf courses and is just 10 minutes from the University of Rhode Island, and just six miles to historic Wickford Village and marina.

  • $549,000
  • Single Family
  • 3 Bedrooms
  • 2 Full Baths
  • 1 Half Baths
  • MLS: 1050246