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Would you recommend purchasing flood insurance through the National Flood Insurance Program (NFIP)?

Yes
48%
In most cases
20%
In some cases
11%
No
4%
Not sure
13%
Next Question
Question: Would you recommend purchasing flood insurance through the National Flood Insurance Program (NFIP)?
Top Answer (48% of 43 votes): Yes.

Answer: Yes
Explanation: Regardless of what company you purchase flood insurance from, the rating system was developed by FEMA using flood maps and the NFIP was created to rate locations based on those maps.
Lockhart's Insurance Services
Answer: Yes
Explanation: https://www.houselogic.com/finances-taxes/home-insurance/what-does-flood-insurance-cover/ What the Federal Flood Insurance Program Covers NFIP’s building property policy covers the cost to rebuild or the actual value of your home (whichever is less). That includes: Your home and its foundation Electrical and plumbing systems HVAC equipment like air conditioning, furnaces, and water heaters Kitchen appliances, including your refrigerator, stove, and built-ins such as your dishwasher Permanently installed carpeting over an unfinished floor Permanently installed wallboard, paneling, bookcases, and cabinets Window blinds Detached garages (limited to 10% of your home policy) Debris removal Water heater The NFIP policy that covers your personal property will cover stuff like: Clothing, furniture, and electronic equipment Curtains Window AC units Portable microwaves and dishwashers Carpets not covered by your building policy Washer/dryers Your freezer and frozen food Up to $2,500 in valuables, such as art and furs Note: Personal possessions claims are paid based on actual cash value — not what you paid for them.
Authorized Progressive Insurance Agent/Russell G. Lewis
Answer: Yes
Explanation: Nationwide, only 20% of American homes at risk for floods are covered by flood insurance. Most private insurers do not insure against the peril of flood due to the prevalence of adverse selection, which is the purchase of insurance by persons most affected by the specific peril of flood. In traditional insurance, insurers use the economic law of large numbers to charge a relatively small fee to large numbers of people in order to pay the claims of the small numbers of claimants who have suffered a loss. Unfortunately, in flood insurance, the numbers of claimants is larger than the available number of persons interested in protecting their property from the peril, which means that most private insurers view the probability of generating a profit from providing flood insurance as being remote.
Pilgrim Mortgage Llc
ProMatcher
Answer: In most cases
Explanation: They provide insurance resources but you can find other agencies with lower pricing or better policy coverage if you do your research.
Florida Central Credit Union
Answer: In most cases
Explanation: Yes, in most cases, I would recommend it.
nofeelendersubmit4u.com
Answer: In most cases
Explanation: If your property is located in a high-risk flood zone, insurance through the National Flood Insurance Program (NFIP) is generally more cost-effective than other remedies, such as loan products.
Atlantic Mortgage and Finance Corporation
ProMatcher
Answer: No
Explanation: don't know enough about it
United Northern Mortgage Bankers, Ltd.
Answer: In some cases
Explanation: Depending on the flood plane you inhabit it may be cheaper to go with a private company for a better price.
G.L. Anderson Insurance Services, Inc
Answer: Not sure
Explanation: Seems like the right thing to do
AMR CompaniesLtd.
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Related Questions

My house has flooded in the past. Can I still purchase flood insurance? Top answer: Yes

Can a mortgage lender require me to buy flood insurance?Top answer: Yes

Can I still buy flood insurance if I don't live in a high-risk flood zone?Top answer: Yes

Does flood insurance typically cover earthquake-related flooding?Top answer: No

Can renters purchase flood insurance?Top answer: Yes

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