Talk to your insurance agent about flood insurance. Here are helpful questions to ask your agent:
- 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 National Flood Insurance Program's Community Rating System (CRS)? If so, does my home qualify for a CRS rating discount?
- What will and won't be covered?
- Will the Federal Government back my flood insurance policy?
- How much coverage should I get for my building and for my contents?
- How can I reduce my premium?
- Are there additional expenses or agency fees?
- Will my policy provide Replacement Cost Value or Actual Cash Value—and what's the difference between the two?
- Who should I call if I have a flood claim?
- How can I pay for my policy?
- How do I renew my policy?
Download this list of questions, and take it with you when you visit your agent.