Will the age of my home affect the cost of purchasing flood insurance? | | Yes | 22% | | In most cases | 10% | | In some cases | 17% | | No | 35% | | Not sure | 15% | | | | | Question: Will the age of my home affect the cost of purchasing flood insurance? Top Answer (35% of 40 votes): No.
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 | Answer: Not sure
Explanation: Not sure on this | | Belocura Cabinetry | | | ProMatcher | 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 | Answer: In some cases
Explanation: The law and insurances are constantly changing policy. We have to stay on top of our policies and coverages and if there are questions contact your insurance company. | | Extreme Extraction and Decontamination llc | | | ProMatcher | 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 | Answer: In some cases
Explanation: Several factors are involved in determining premiums. | | The Lewis Financial Group |
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