How to Buy Flood Insurance Online
According to the National Flood Insurance program, all 50 states are affected by flooding. However, most homeowners policies don't provide coverage for these natural disasters. That leaves homeowners vulnerable to damages that occur from flash floods, hurricanes, and even natural runoff. People who are busy find it much easier to purchase flood insurance online.
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Instructions
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Choose a company that is affiliated with the National Flood Insurance program. Most of these companies sell policies online or over the phone. FEMA has a database of flood insurance companies on their website, sorted by state (see Resources).
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Check out low risk policies. When you contact an online flood insurance company, they will be able to tell you your "flood risk" based on geographic location. Low to moderate risk policies often cost as little as $100 per year.
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Consider purchasing Excess Flood Protection. If you live in a high risk area, check out "Excess Flood Protection." These policies allow you to purchase larger insurance policies; which provide more protection in the event of a disaster.
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Ask the insurance company to fax you a copy of the policy. When purchasing insurance online, you'll fill out an application, which will be sent to underwriting to determine approval and pricing information. Once the policy has been issued, make sure to request a faxed copy for your records. This way, you'll have something in writing in case of an emergency happens before the formal policy arrives.
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Tips & Warnings
Understand your current homeowner's policies. Flood insurance doesn't come standard with homeowners policies. However, if you already have a homeowners policy, you might get an discounted price on flood insurance.
Make sure to consider flood insurance, even if you live in a low-risk area. According to the National Flood Insurance Program, approximately 25% of flood claims come from low-risk areas.
