Flood zone insurance costs vary between flood risks and the type of coverage.
Properties in designated high-risk zones will pay more for insurance than those at a lower to moderate risk.
And if you own the home or building, you will need to purchase building and content insurance, whereas renters only need content.
In some cases, flood insurance is mandatory.
All homes in high-risk flood zones must have flood insurance before the bank releases a mortgage.
At Holt Flood Insurance, we recommend everyone buys flood insurance.
While it may seem like an added expense for those who don't need it, not having flood insurance means paying thousands of dollars on repairs and replacing lost items out of pocket.
Flood zone insurance costs differ between the NFIP, a private insurance company, and each state.
Insurance through the NFIP is more affordable.
However, there are some limits.
The NFIP only covers homes less than $250,000.
So, if your home is worth more, you are best to buy your flood insurance through a private insurance company.
If you need to know which flood coverage works for you, trust the experts at Holt Flood Insurance.
With over 30 years of flood insurance experience, we can help you with all your flood insurance needs.
For more information on flood zone insurance rates, visit our website or call us at (540)809-1415.
We will answer any questions you may have.
Contact Holt Flood Insurance today.