The Flood Insurance Guru

Here's the first thing I look at when someone asks me to review a National Flood Insurance Program policy and determine whether it's the best option or not.

By not paying attention to this one thing, you could lose thousands of dollars.

I recently saw a business owner and homeowner facing a flood insurance rate about $3,000 higher because their agent didn’t know about other options. The agent hadn't kept up with flood insurance education, leaving the customer without a full picture of their choices.That’s a costly reminder: having an insurance agent is not the same as having someone who understands your flood insurance options.If you own a home or business, ask your agent which flood insurance options they reviewed, how the coverage compares, and whether there are alternatives worth considering. And if you’re an agent, keep your flood insurance education current so your clients can make informed decisions. The right questions can make a real difference before you commit to a policy.

Could your bank require flood insurance for a detached garage, not just your home?Additional buildings on your property can raise separate coverage questions. In this video, we explain what to ask your lender about its requirements and how to review flood insurance options for a detached structure, including the National Flood Insurance Program (NFIP) and private flood insurance. Coverage for an additional building can vary by policy, so don't assume your home's coverage automatically applies.Start by confirming exactly which buildings your bank requires you to insure. Then compare the available policies for those buildings before you decide.

This one mistake is costing homeowners thousands of dollars on flood insurance.

What's the real difference between building coverage and contents coverage when it comes to flood insurance?