How Do You Determine The Flood Insurance Rate Of Your Home?

How to determine flood insurance quotes

How to determine flood insurance quotes

According to the National Flood Insurance Program, the average flood insurance claim over the past decade is $33,000. Since home insurance policies don’t cover flood protection, the only way to protect your home from flooding is by getting flood insurance through the NFIP.

If your home is in an area that is considered to have a high risk of flooding, your lender will likely ask you to have flood insurance in addition to your homeowner’s insurance.

If you are trying to determine the insurance rate you should pay on your home, the following steps should make it easier for you to find a reasonably priced premium.

Locate Your Home on Federal Flood Insurance Maps.

The Federal Emergency Management Agency provides flood maps of the United States on their website. The flood maps will show you the type of flood zone your property is on. The higher the risk of flooding, the higher your insurance premium is going to be, which is why the flood maps are important.

Flood Zones Long Island

Flood Zones Long Island

If your property is in the A and V zones, it is in a high-risk flooding zone. If the property is in the B, C, and X zones, if it is in a moderate- to a low-risk area which means your premium will be lower.

Find Out if You Qualify for a Preferred Rate Discount.

Some communities receive preferred rate discounts through the NFIP and you may be eligible for the discount if your community meets the NFIP’s minimum requirements. People that live in the B, C and X zones of the flood maps are eligible for the discount while people that live in the A and V zones are not.



Decide How Much Coverage You Want and How Big a Deductible You Wish to Take Out.

You can get an estimate of how much your premium will be at the NFIP website based on the zone your property is in and the size of your insurance policy. According to the website, other factors that affect the price of your premium include the size of your deductible and having a basement in your home.

Shop for competitive rates on any type of insurance!

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View the Coastal Insurance Video Library  to find helpful video’s explaining everything from, how to save money on Homeowners Insurance to an easy explanation of Flood Insurance. Call today (631-782-3175) to speak with one of our underwriting experts.  Fast Quotes, A.M. Best Rates & Free Advice. New York Flood Insurance


How to Determine Your Flood Insurance Rate



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