Are flood insurance premiums more expensive in high-risk flood areas? | | Yes | 62% | | In most cases | 20% | | In some cases | 12% | | Not sure | 5% | | | | | Question: Are flood insurance premiums more expensive in high-risk flood areas? Top Answer (62% of 40 votes): Yes.
Answer: In most cases
Explanation: This again is determined by the policy you have | | Jean's Repair Specialist LLC | Answer: In some cases
Explanation: Not necessarily. It may be less expensive due to the likelihood of a flood occurrence. By more homeowners needing to purchase flood insurance, could very well bring the price down. | | Hazar Financial Services | Answer: Not sure
Explanation: Not sure | | Belocura Cabinetry | | | ProMatcher | Answer: Yes
Explanation: 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. | | State Farm Insurance | Answer: Yes
Explanation: Flood insurance rates vary depending on the zone. | | MetLife | Answer: In some cases
Explanation: Expense is relative. Many homes near water are expensive properties, but it's always more expensive not to have it. | | Lockhart's Insurance Services | | | ProMatcher |
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