How to Buy Flood Insurance

Natural disasters such as floods and hurricanes can cause severe damage, especially to real estate. Although floods may be predicted, there is not much you can do to minimize the damage. So it is important to have your property insured for floods and other natural disasters. The location of your property is key in the policy's cost.


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Step1
Understand the limit of your coverage. Flood insurance policies cover up to $250,000 for a single-family home and up to $100,000 for its contents. The federal regulations classify flood-prone areas. If your home is located in such an area, you must have flood insurance. Coverage for earthquakes, forest fires and hurricanes usually are purchased separately.


Step2
Contact the nearest government office in your state. Some states provide protection against natural disasters. In such cases, you can buy standard protection from the state before you move in to your home.


Step3
Contact agents and companies that offer flood insurance if it is not provided under any other state or federal regulation. Shop for the best quotes. Premiums will usually be higher compared to other properties.


Step4
Ask for coverage options on detached garages and other contents of the home such as decorative grills. Ask for deductibles under the policy.


Step5
Choose full-replacement coverage while comparing policies. It will cost you a few dollars more, but it is worth the money.





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