Comments on: Flood Insurance: Are you sure your home is covered?

By: Dave

Dave — Wed, 16 Apr 2008 19:30:43 +0000

Flood insurance should be pretty consistent across insurance companies, as the coverage is provided by NFIP. A handful of insurance companies administrate the program, so the only differences should be in those costs, and possibly varying commissions to the agent.

That said, flood coverage in the US is historically underpriced from a risk perspective (usually a good deal for those at risk), as normally only those in higher risk areas are compelled to buy coverage, usually by the mortgage as mentioned.

Definitely a topic that isn’t widely understood, good post.

- Dave

By: DR

DR — Tue, 15 Apr 2008 19:05:53 +0000

Constance, that’s not a bad price at all. Do you mind sharing which insurance company you went with?

By: Constance

Constance — Tue, 15 Apr 2008 14:21:47 +0000

I live in a flood plain and I could not get a FHA loan unless I purchased flood insurance. The insurance was only $250 per year.