Flood Insurance – Questions to Ask!
Flood Insurance – Questions to Ask Your Agent!
To be proactive about your flood insurance, you should ask your insurance agent the following questions:
- What flood zone do I live in? What is my property’s flood risk?
- Is flood insurance mandatory for my property? Will the lender require it?
- Even if flood insurance isn’t required by my lender, do I still need it?
- Do I qualify for a Preferred Risk Policy?
- Does my community participate in the NFIP Community Rating System (CRS)? If so, does my home qualify for a CRS rating discount?
- What will and won’t be covered against flood damage?
- Will my flood insurance policy be backed by the federal government?
- How much coverage should I get for my building and for my contents?
- What options do I have to reduce my premium?
- Are there additional expenses or agency fees I should be aware of?
- Will my policy provide Replacement Cost Value or Actual Cash Value? And what is the difference between the two?
- Who should I call if I have a flood claim?
- How can I pay for my policy?
- How will my policy be renewed?
The above information was provided by FEMA. For additional information on Flood Insurance – Questions to Ask visit our website at www.crawlspacedoorsystems.