Finding an insurance agent that is knowledgeable in flood insurance is important because, like Goldilocks, a well-qualified agent can help you get coverage that is “just right” for you. A well-qualified agent can help you compare private flood insurance versus the rates offered through the National Flood Insurance Program, and offer valuable advice about other things you can do to obtain affordable flood insurance coverage.
Here are some questions you may want to ask agents as you shop around for the right agent:
- How many flood insurance policies do you write each year?
- How are you keeping up on changes to the National Flood Insurance Program?
- In what zone is my property located?
- Do I need an elevation certificate? How would it benefit me?
- How much coverage do I need?
- Will my policy cover replacement cost value or actual cash value?
- Does my policy cover contents?
- Do I have to buy insurance from the National Flood Insurance Program? (The answer is “No, you can buy private insurance, however…”)
- Can I escrow my flood insurance? (The answer is “yes, but let’s talk about what that would mean to you…”)