The flood premium for your home is based upon many factors, the biggest being the zone in which the property is located. A property near a natural body of water will likely have a higher rate than one far away.
If you are in a zone susceptible to flooding, you likely had to buy flood insurance when you took out your mortgage. But if you didn’t have to buy flood insurance then, you are likely in a zone where there is low to moderate risk of flood.
Pricing for all insurance products is based upon the simple premise that if the risk is higher, the price is greater. So it goes for flood. This is good news if your property is in a low risk zone—your premium will be less!
Here are some sample premiums to give you an idea of flood pricing:
So for less than a tank of gas, you could protect your home in the event of a flood.
Want specific pricing on your home? Click here.