Average cost of flood insurance


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Average cost of flood insurance

The average cost of flood insurance depends on your home's elevation, but the average amount is estimated to be $700 a year. The best way to reduce the cost is to increase your home's elevation from four feet below the base flood elevation (BFE) to three feet above it. You can also lower your cost by 40 percent by increasing your deductible. At Holt Flood Insurance, we can help you find the insurance rate that works for you.

Flood insurance may seem like just another expense, but the cost of not having it is more expensive. Water damages due to flooding caused by natural disasters can cost up to $10,000, and that's just for property damage. Your home insurance only covers water damage caused by a leaky toilet, overflowing bathtubs and sinks, and an exploding dishwasher or hot water tank. In the end, it's best to have it and not need it, then not have it and need it.

Lowering your flood risk can also save on the average cost of flood insurance, to reduce the risk, all you have to do is the following. Elevate utilities such as heating and cooling units, electrical panels and hot water tanks. Install flood openings and fill in your basement if you live in a high-risk flood area.

For more information about the average cost of flood insurance, visit our website or give us a call at 1-540-809-1415. We will answer any questions you may have, contact Holt Flood Insurance today.



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Here is what our clients are saying about us:

I have no problem giving you an A1 reference for taking care of the flood policies for me and Diane. I appreciate you working with the mortgage company: the surveyor and our previous agent. The result was a 75% reduction in our flood insurance premiums!
Mike Edwards

I have known Tim for many years and he is a man with great integrity, work ethic and one of the nicest persons I know. Over the years Tim has provided insurance counseling and advice to our company, for myself personally, as well as to our clients. Recently Tim, took time to analyze our flood insurance policy and he was able to make some excellent recommendations. Our flood insurance costs are now less and we have much better coverage. I recommend Tim to anyone without hesitation or reservation.
Edward Semambya, CPA

We contacted Mr. Holt for an estimate via email over the weekend prior to a closing on a property, hoping for a response on the following Monday to take with us with confidence in being insured at the settlement table on a Tuesday. He exceeded our expectations not once but in readily responding to the initial request and then to follow-up questions all during the weekend frenzy that occurs before closing. "Impressive and responsive customer service," for sure!
Ken Reuwer


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