Just because you don’t live on the coast doesn’t mean you shouldn’t consider buying flood insurance. Even if you live in Denver, Colorado, you should consider buying a flood insurance policy. One of the most common misconceptions is a standard homeowner’s insurance policy will protect your home from any flood-related damages.
At Longevity Brokers, it’s our mission to ensure you have all of the insurance policies you need. We can connect you with the best homeowner’s insurance policy, auto insurance plans, and life insurance policies. This post is going to look at some of the companies that offer affordable flood insurance protection.
What Protection does Flood Insurance Provide?
Before we look at the best flood insurance companies, it’s vital you understand the difference between the types of plans that are available. The two types of plans available are plans through the NFIP or a private insurance company. NFIP policies are a great option for flood insurance, but they have lower coverage limits than private insurance companies. If you want to get more additional protection, you will need to find a private insurance company.
The average flood damage is around $45,000. If this were to happen to you, would you have the money you need to replace all of your property or goods? If you’re like most people, you won’t have the savings you need. That’s where flood insurance comes in.
There are dozens and dozens of companies on the market that sell flood insurance. Each of them is different, and all of them are going to have different rates. It’s important you find the best one for you.
GEICO has an A rating from every major third-party rating company on the market. They sell just about every type of insurance policy you can imagine, including flood insurance. They have a personal property calculator you can use to determine how much coverage you should purchase. Not only is it important to have flood insurance, but it’s also vital you get a large enough plan.
If you’re looking for flood insurance, GEICO makes it quick and easy to get a quote for your flood insurance policy. They have a quote page or a number you can call.
Allstate is one of the most popular options on our list. They have excellent customer service and make filing claims extremely simple. One of the nice advantages of using Allstate is you can utilize their Common and Costly Claim Tool on their website. This tool shows some of the common claims in your area.
While you’ve probably heard of USAA, you might not know they can help you get flood insurance coverage. They work with several private insurance companies to offer flood insurance coverage for those who don’t live in a NFIP insurance area.
How much does Flood Insurance Cost?
There are several factors which impact flood insurance rates. The size of the home, the amount of coverage, and where you live are all going to play a major role in your rates. Some of the other factors the company will look at is the year your home was built, the type of materials, the number of floors, and number of floors on the house.
One of the biggest factors the company is going to look at is where you live. Areas are more prone to flooding are going to pay a lot more for flood insurance compared to areas which rarely see flooding damage. If you want to get an idea of how much you’ll pay, the best way to do is to check out the flood insurance rate maps. They show which areas are more prone to flooding. Additionally, you can see your home’s flood risk on the FEMA’s website. They have a Flood Map Service Center. All you have to do is enter your address.
The average flood insurance policy is going to cost around $700 a year. NFIP insurance policies are going to be much more affordable. Depending on where you live, the annual premiums can be much lower. In fact, the vast majority of homeowners are going to pay much lower premiums.
Working with Longevity Brokers
Your home is your largest investment. It’s where you sleep every night and where you and your family create memories. What if something awful were to happen to your home? Mother Nature has a way of throwing serious curve balls.
We know shopping for homeowner’s insurance and flood insurance can be a complicated task, but that’s why we are here to help. It’s our mission to connect you with all of the best available insurance plans for you and your family.
Unlike traditional insurance agents, we don’t work with one single company. Instead, we represent dozens and dozens of highly rated companies in the Denver, Colorado area. If you have any questions about flood insurance or any of the other quality insurance products we offer, don’t hesitate to contact one of our experienced agents today.