How Much Flood Insurance Do I Need?

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Q: How Much Flood Insurance Do I Need?

A: This is an important question, especially if you live in a high-risk area. After all, there’s a difference between the “required” amount and the amount you truly “need.” 

A basic starting point is to assume the worst: If you were to lose everything – home and belongings – in a flood, how much coverage would you need to rebuild and replace it all? This isn’t necessarily the market value of your home, either. You have to consider the cost of things like materials and labor. You should also consider that some personal belongings may not be covered. If you have special property (like artwork), you’ll need a special policy for the replacement value, as well as an appraisal to prove the value. 

The best way to determine how much flood insurance you need is to talk to your independent agent. They will discuss all of your property and needs and offer a range of policies and pricing so you can choose what works best for you. 

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