Getting a Flood Insurance Quote

Obtaining a Flood Insurance quote can be a very easy process if all of the required documentation is in place. In many instances, your Alpha Insurance agent can provide your quote over the phone in just a matter of minutes. In some instances, you may need an elevation certificate showing the elevation of your home to acquire your flood quote. If that is the case, and you currently do not possess a flood elevation certificate, Alpha Insurance can assist you in getting the proper documentation in order to receive your flood insurance quote.

Why pick Alpha Insurance?

Alpha Insurance is a registered agent with the National Flood Insurance Program (NFIP) and provides flood insurance quotes for your home and business. This federal agency is responsible for setting the basic Standard Flood Insurance Policy (SFIP) rates. Many homeowners don’t realize that flood insurance can be very affordable. The federally backed program partners with communities to offer low-cost flood insurance rates. Flood insurance quotes are based on a broad number of factors and are calculated very differently that your homeowners insurance policy. An Alpha Insurance agent can help you to determine the highest rate of protection at the lowest cost.

What is the NFIP and how does it affect my Flood Quote?

In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves from the risk of flooding. NFIP is federally backed flood insurance offered to homeowners, renters, and business owners and can only be purchased through a qualified agency such as Alpha Insurance.

  • Mid-to-low risk areas have set flood rates at affordable premiums that can also include additional protection for contents, outbuildings and other coverable property. Depending on your area, you will have different flood insurance rates.
  • Property in high-risk areas are assessed considering a number of factors including elevation and type of construction. Along with flood zone information, we will review the location, the age and design of the building, occupancy, and the amount of coverage requested. Additionally, for buildings located in Special Flood Hazard Areas, agents must consider the elevation of the building in relation to the base flood elevation.

What other factors will determine my Flood Insurance Quote?

  • What flood zone do you live in? What is your property’s flood risk?
  • What type of structure is your building?
  • How old is your home?
  • What is the current value of your building?
  • Is the building raised? Are there outbuildings?
  • How close are you to flood risk areas?
  • Is this your primary home?
  • What is the replacement cost value vs. your actual cash value?
  • Does your mortgage lender require flood insurance for your property?
  • Do you qualify for a Preferred Risk Policy?
  • Does your community participate in the NFIP Community Rating System (CRS)?
  • Does your home qualify for a CRS rating discount?
  • How much coverage do you want on your building?
  • Will you insure the contents of your home?
  • What other discounts do you qualify for that might reduce your premium?

How does an Elevation Certificate affect my Flood Insurance Quote?

If the home you are insuring is located in a flood zone that requires flood insurance, you will need to have a flood elevation certificate done by a qualified civil engineer. A flood elevation certificate shows the elevation of your home compared to what is recommended by FEMA. That recommended elevation is called BFE or Base Flood Elevation. For instance, FEMA may have a BFE for the area that your home is built of 10 feet. Upon having an elevation certificate completed you may find out that your home is actually 11 feet which gives you +1 on your elevation certificate. If your home’s elevation is exactly at the BFE, your flood insurance rate will be at par. In the previous example, if your home is built to 11 feet, you would have a +1 on your flood elevation certificate which would give you a discounted rate from par. Subsequently, if your home’s elevation is below the recommended base flood elevation, you will pay an increased premium on your flood insurance. Speak with your Alpha Insurance representative to get more details about whether or not you need a flood elevation certificate, as well as the details of how the results will affect your flood insurance quote.

When will my Flood Insurance Policy go into effect?

Generally speaking, your flood insurance policy will not take effect until 30 days after you purchase it. So, if the weather forecast announces a flood alert for your area and you run to purchase coverage, it’s already too late. There is an exception to that rule. If you are purchasing a home and if your lender is requiring you to obtain flood insurance, your policy will go into effect at the act of sale. In some instances, although you have already gotten your insurance quote, some policies may not be able to be actually written if there is a “named storm” in the Gulf of Mexico.


What to do next?

Contact Alpha Insurance and let us go over your options for flood insurance. Don’t be caught off-guard when a flood strikes. The low cost of a yearly premium for flood insurance versus the cost of replacing your home and its contents can make the difference in being able to replace what is lost versus starting over. Lastly, we are here for you if you ever need to make a flood insurance claim on your home or business.