What do you need to know about Flood Insurance
While all our of minds are on the possibility of a flood in California, let’s talk about flood insurance:
What can flood insurance do for your home?
Basic flood insurance covers up to $250,000 in building property damage for your home and up to $100,000 in personal property coverage contents
How to reduce your flood insurance cost?
Besides major modifications to your home, an elevation certificate can give you the highest reduction in cost If the report is favorable. An elevation certificate tells you the hight your home sits above or below a flood plain. The higher your home is above the flood plain, the bigger reduction in cost for flood insurance.
Who needs flood insurance?
if you’re buying a home and you’re in a flood zone, the mortgage company will require flood insurance. If you don’t know the flood plain map for your area, you can contact your agent or city officials.
What factors determine flood insurance cost?
The flood zone the home is in, the elevation; whether it’s above or below the flood plain, construction details, for instance, venting under the house for water to be able to escape, and one of the last things to determine costs is where your home systems sit (HVAC, water heater)
What’s the cost associated with flood insurance?
The costs for flood insurance varies depending on the home, the location and the factors listed in question number 4.
If I buy a home in an area where flooding is common will I be denied flood insurance?
No, The national flood insurance program (NFIP) which is managed by FEMA, will always offer insurance no matter the number of claims or prior incidents.
For more information about flood insurance specifically for your home, please reach out to your agent or if you need an agent, please call 707-463-1010 for help from one of our experienced agents.