The majority of the time the answer is yes. All these steps listed below should save you more money on your flood insurance and help better protect your home in the event of a flood. Always ask your insurance provider before you proceed doing any of them because what if those actions don’t save you money.
Current Insurance Annually $3,000
Installing flood vents to meet requirements $2,100
Installing the flood vents (wet flood proofing) reduced insurance annually to $1,200
Saving you $1,800 a year – meaning in two years with your reduced rate the flood vents will be paid for and you will save money every year after.
Besides installing flood vents, there other actions you can take, such as:
Filling your crawlspace or basement with “compacted fill” to bring it closer to the BFE, when filling a basement account for drainage, raising your outlets, AC unit and utilities above the BFE. the BFE means Base Flood Elevation. This information can be found on a current Elevation Certificate.
Installing flood vents in attached garages.
All these steps should save you more money on your flood insurance.