Are flood insurance premiums more expensive in high-risk flood areas? | | Yes | 67% | | In most cases | 16% | | In some cases | 10% | | Not sure | 5% | | | | | Question: Are flood insurance premiums more expensive in high-risk flood areas? Top Answer (67% of 37 votes): Yes.
Answer: Not sure
Explanation: Not sure | | Belocura Cabinetry | Answer: Yes
Explanation: Yes, if you live in a high-risk area your premiums will be higher, but you can offset that by having a higher deductible. | | Farmers Insurance-Chris Faverty Agency | 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 | | | ProMatcher | 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 | Answer: Yes
Explanation: The flood insurance rates are based on the flood insurance mapping done by FEMA and the NFIP. (https://msc.fema.gov/portal/search?AddressQuery=95747#searchresultsanchor) | | G.L. Anderson Insurance Services, Inc |
|