Excess flood insurance carriers are there to help you when you have used up your flood insurance limit. Some of the features of extra flood insurance include coverage limits over $250,000, with some companies having limits up to 10 million dollars. It can also include additional expenses that are not included with regular flood insurance.
When calculating flood insurance rates, companies will look at a few factors such as your home's age and location, the distance between the building and a body of water, elevation, and the amount of coverage you will need. At Holt Flood Insurance, we can help you better understand what goes into determining flood insurance rates, whether you are new to flood insurance or have had it for a long time.
Not everyone needs to use excess flood insurance carriers, and there are a few circumstances in which this is the case. These include homes and businesses located in high-risk areas. The cost to repair or rebuild your home costs more than $250,000, and there is still a mortgage on your home. While it's not required to purchase excess flood insurance, it's always a good idea to have it in case of emergencies.
For more information on excess flood insurance carriers and how to find them 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.