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You want to protect your home from the risks it faces. You purchased home insurance that offers ample protection from everything from theft to fires. Now, you want to protect against floods. Flood insurance is custom designed to meet your home’s unique needs. When you begin to search for policies, though, you may find a significant amount of difference in the rates for flood insurance. How much are you likely to pay for this type of coverage?

Flood insurance is in place to offer financial protection. In most cases, this type of insurance product is an affordable investment because it provides ample protection. However, where you live really does make a difference. Here are a few factors that play a role in how much you pay for insurance like this.

  1. Your risk level is dependent on the federal flood zones. In areas where floods are more likely, a high-risk level is present. Even if you live in a high-risk zone, you may still be able to purchase flood insurance. Low to moderate risk areas will pay less though.

  2. The value of your home, as well as the size and type of structure, play a role. In most cases, the higher the value of the home, the more likely your claims will be higher, adding to the cost and the risk to the insurer.

  3. The deductible you set also matters. The higher the deductible is, the lower the premium. However, you should make sure the coverage remains affordable to you when buying flood insurance.

  4. Whether or not you have a basement plays a role as well. Basements are more likely to be at a flood risk than homes without them. This also adds on to the amount of risk present.

  5. If you’ve filed numerous insurance claims over the last few years, this can also drive up the cost of flood insurance.

The good news is most people will find flood insurance, like most property insurance, to be affordable and well worth the investment. Be sure to routinely obtain new quotes for policies and to negotiate affordable rates with insurers.

Get a quote today. Call Turrentine Insurance Agency at (281) 476-0557 for more information on flood insurance in Houston.

Posted 10:50 AM  View Comments

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Turrentine Insurance Agency
4003 Center St
Deer Park, TX 77536
Phone: 281.476.0557
Fax: 281.479.7705
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