Is flood insurance expensive is another question we are asked. And the answer to that depends on where their property is located. The price of flood insurance varies for different levels of flood risk. Properties listed in higher-risk areas will pay more for flood insurance than those in lower risk.
Flood insurance is available to everyone, whether you own or rent. It's also mandatory if you are looking for a home in an area classified as high risk for flooding. Mortgage companies will not give you a loan unless you provide them with proof of flood insurance. Regardless of the level of risk, we strongly recommend purchasing flood insurance. Without it, you could be spending thousands of dollars on repairs.
So is flood insurance expensive? Your flood zone isn't the only thing determining how much you will pay for flood insurance. There is also the state you live in and whether you have purchased flood insurance through the NFIP or an insurance agent. Flood insurance through the NFIP can be less costly than an insurance agent. However, you may not receive as much coverage as you would through an agency. At Holt Flood Insurance, we can help you decide whether to go with an insurance company or the NFIP.
Is flood insurance expensive? Visit our website for more information or give us a call at (540)809-1415. We will answer any questions you may have. Contact Holt Flood Insurance today.