FLOOD INSURANCE WHAT IS COVERED

When own a home your homeowners policy does not cover flood insurance so you must purchase a flood insurance policy to cover your property from rising water

The house and your personal property inside the home would be covered

You need to determine how much flood insurance is needed

To get replacement cost on your property you would need to buy at least 80% of the cost to rebuild your property

If not your claim check would be subject to actual cash value or depreciation

RISK RATING 2.0 IS HERE

FEMA has updated the rating factors used to rate flood insurance on each property

Here are some of the factors now used to determine the rate

Distance to Water or flooding source

Cost to rebuild

Construction type (brick or frame)

Number of floors

Historical claim history on property

Total Square Footage

RISK RATING 2.0 FEMA VIDEO

FLOOD INSURANCE FOR A NEW PURCHASE

The first thing you should consider before you decide on a new home is determine the existing flood insurance rate

There will no longer be any preferred flood x zones so each property will be rated by FEMA using their elevated floor height and distance to water

Lenders will determine if the property is at risk for flooding and will decide if you must carry flood insurance as a requirement but you should decide if it is worth it to protect your new home with flood insurance

Quick quotes based on an address can be completed and emailed to you so just complete the form and we can send you a flood insurance quote