How can I get flood insurance?
If you live in a community that participates in the National Flood Insurance Program (NFIP), you are eligible to purchase flood insurance. Find out if your community is one that have implemented floodplain management measures and participate in the National Flood Insurance Program. Many homes located in AE zones can take advantage of a program underwritten through Lloyds of London that provide savings up to 38% off the NFIP rate. You can contact a Lallis & Higgins Insurance representative to review options your home may qualify for.
What will my flood insurance premium cost?
It is essential that you visit with your insurance agent to determine exact costs. However, if you'd like to receive a general idea of how much your premium will cost contact Lallis & Higgins Insurance.
How is my flood insurance premium calculated?
A number of factors are considered when determining your flood insurance premium. These factors include: the amount and type of coverage being purchased, location and flood zone, and the design and age of your structure. For homes in high-risk areas (e.g., Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also required.
Can I get a discount on my flood insurance premium?
It's possible that you qualify for a discount based on your community's participation and status in the Community Rating System program.
Does a deductible apply to my coverage?
Building and contents policies have separate deductibles for each. This means that if your building and contents are both damaged due to a flood event, both deductibles are applied.
Will damage-preventing measures I’ve taken in my home be reimbursed by my Standard Flood Insurance Policy?
Some will be. When your insured home is in eminent danger of being flooded, you may receive up to a $1,000 reimbursement for your damage-preventing expenses. Things like renting storage space to protect your belongings, buying sandbags and lumber to make a barricade, and renting pumps are all things that qualify for reimbursement. No deductible is applied to this coverage.
To buy a flood insurance policy, call your insurance agent or contact Lallis & Higgins.