How can I get a lower flood insurance premium?

Question

Flood insurance is killing my ROI.  I need advice on ways to lower my premium.  Does anyone know anything about the private market flood insurance?  Anything helps.

Dolan Jablonski · Answer

Chris Greene, Flood Guru, is the guy you need to talk too. I have his info if you’d like it

Michael King · Answer

I listened to a BP podcast and this girl on it bought a place in a flood zone; she let the bank organize flood insurance because they got it for a far better rate than she did. I remember thinking, I'm just gonna let the bank do that if I ever buy a place in a dry lake bed.

Bill B. · Answer

“Force placed insurance” by the lender is USUALLY 2 -10x more expensive than buying it yourself.

Ravi P. · Answer

@Jayson Robinson

Pay off your mortgage or get private money that may not require flood insurance.

Clint Shelley · Answer

Have you had an elevation certificate in the house? There may be just a generic policy applied. Real data can often times prove lower risk meaning lower premium. Start there. Depending on what the data shows there are some tricks you can do. Search my other posts on flood zones.

Clint

Jesse Whitmore · Answer

Replying to keep track of this post, I’m potentially buying a home in a flood prone area and could use some knowledge as well

How can I get a lower flood insurance premium?

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