Flood insurance deductibles are portions of damages you need to pay when filing a claim with your insurance agency. It's also one of the factors that contribute to how much you will pay for flood insurance. You can choose the type of deductible, but it will affect how much your insurance agency will pay out.
You can purchase flood insurance either through the NFIP or through a private insurance company. The difference between the two is that insurance through the NFIP is cheaper than from an insurance company. However, private insurance companies offer more protection. At Holt Flood Insurance, we can help you decide which insurance provider works best for you and your property.
There are two types of flood insurance deductibles, building, and contents. Building applies to the structure of your home, the foundation, walls, and floors, where contents are any personal belongings that may have been damaged, like clothing, electronics, furniture, and more. Choosing a higher deductible will decrease how much you will pay for flood insurance. Deductibles through the NFIP stay at a fixed rate, but if you decide to go with a private insurance company, Holt Flood Insurance can help you go through the quotes before deciding which company to go through.
For more information on flood insurance deductibles, 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.