Will the age of my home affect the cost of purchasing flood insurance? | | Yes | 23% | | In most cases | 9% | | In some cases | 19% | | No | 33% | | Not sure | 14% | | | | | Question: Will the age of my home affect the cost of purchasing flood insurance? Top Answer (33% of 42 votes): No.
Answer: In some cases
Explanation: Yes in some policies age plays a determining factor | | Jean's Repair Specialist LLC | Answer: No
Explanation: The age itself does not determine the cost, the materials the home was built with and the upkeep of the home determines cost.
Insurance manages risk.
If an older home is totally renovated, it's a lower risk. | | Hazar Financial Services | Answer: Not sure
Explanation: Never dealt with it | | Cosmic Cleaning Services | | | ProMatcher | Answer: In most cases
Explanation: Replacement cost is always a factor | | Full Service Personal Insurance Needs | Answer: No
Explanation: Flood Insurance is not affected by the age of the home. | | Certified Inspectors, LLC | Answer: No
Explanation: Flood insurance premium costs depend mostly on a property's risk level according to government mapping data. The amount of coverage you would like to purchase to cover structural damage &/or loss of contents will also affect the premium amount. | | Farmers Insurance-Chris Faverty Agency | | | ProMatcher | Answer: No
Explanation: This cost is determined by a rating scale generated by FEMMA. | | Farmers Insurance | Answer: Yes
Explanation: Age and upgraded measures are taken into consideration when rating homeowner's insurance. For flood insurance, location plays a large part, also. | | Lockhart's Insurance Services | Answer: No
Explanation: Flood insurance is based on the flood plane your house is located on as determined by the NFIP and FEMA. | | G.L. Anderson Insurance Services, Inc | | | ProMatcher |
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