Flood Insurance Agent – What To Ask About Flooding Coverage

New Orleans, LA, March 8, 2006 - This house in...

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Flood Insurance Agent – What To Ask About Flooding Coverage

Flood insurance is vital for your peace of mind, but (as you may have noticed if you’ve already visited the “what’s covered page) there are a few things which you need to straighten out with your flood insurance agent, just to make sure that you get the right type of cover and have everything covered which you think and need to be insured.

Depending on how long your house has been around, the flood insurance agent might need to take a look at your Elevation Certificate, especially if you live in an area which is classified to have a high risk of flooding. These are only relevant if your house was built (or underwent major surgery) around the time that the initial Flood Insurance Rate Map for the community was done.

Don’t be afraid to ask your flood insurance agent a whole heap of questions just to make sure that you get the right advice, and the right type of policy. It’s too late to make amends once your basement can double as an indoor swimming pool.

Questions to Ask Your Flood Insurance Agent

  • The flood risk of your property . . . on second thoughts, maybe you should have already asked that question to the Real Estate Agent before you bought it! Anyway, you need to know what grade of flood zone you’re in just for starters.
  • Is it compulsory to have flood insurance on my property – it you’re in a high risk area the answer could very possibly be yes, depending on the details of your mortgage lender.
  • Is this community in the NFIP – well, around 20,000 of them are so it’s definitely worth asking the question.
  • What will my flood insurance policy cover . . . and what will it not cover.
  • How can I reduce the premiums on my flood insurance policy . . . apart from moving house?
  • What amount of flood insurance should I have . . . what’s the best way to work it out?
  • If I do have a flood claim, who should I call . . . quick before the emergency services rescue me in a dinghy.
  • I live in a moderate-low risk area, do I really need to bother with flood insurance? – I just added that one on to the end to see if you’re awake, because you really ought to know the answer to that one already!
  • I’d better clear up a couple of things here . . . floods don’t only happen on Mondays, and I certainly would advise against touching anything electrical!

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