How to Save on Home Insurance When Living in a Flood Zone

Living in a flood zone can make homeowners insurance more costly, but there are several ways to save money. Consider the following strategies:

1. Compare quotes. Look at different insurance providers to find the best rate. Prices can vary widely, so it’s worth shopping around.
2. Adjust your deductible. Choosing a higher deductible can lower your premium. Just make sure you have enough savings to cover it in the event of a claim.
3. Bundle policies. Many insurers offer discounts if you bundle your homeowners insurance with other policies, like auto insurance.
4. Take flood mitigation steps. Implementing flood-proofing measures, such as installing sump pumps, elevating utilities and using water-resistant materials, can reduce your risk and potentially lower your premiums.
5. Explore community programs. Check if your community participates in the National Flood Insurance Program’s Community Rating System. Communities that take steps to reduce flood risk may be able to earn discounts for their residents.
6. Maintain good credit. A good credit score can positively impact your insurance rates, as insurers often use credit information to determine premiums.
7. Look for discounts. Ask about available discounts. Some insurers offer discounts for home security systems, loyalty or being claim-free.
8. Review your policy. Regularly review your policy to ensure you’re not over-insured. Adjust coverage as needed to reflect the current value of your home and belongings.
9. Consider private flood insurance. Besides the National Flood Insurance Program, private flood insurance can sometimes offer better rates and coverage options.

Ultimately, Harlan Insurance Agency is here to help assess your needs and recommend suitable coverage. Our insurance experts can explore available discounts and find you a home insurance policy that won’t break the bank. Contact us today to get started.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.