Flood insurance is not the cheapest form of insurance you can buy. In fact, it is considered one of the most expensive types of homeowner insurance out there, despite its minimal coverage. What can homeowners do to make sure they are not paying for a waste of money when looking for flood protection? How can you keep water out of your home without flooding too much?
The Secrets To Lower Your Bills By Preventing Water Theft And Flood Damage
An easy way to save on your flood insurance premium is to do something as simple as getting a sump pump installed. A sump pump is not a flood prevention device per se, but rather a sump pit that hold water and prevent basement flooding. If you have a basement and your basement is below ground level, installing a sump pump in it will lower the amount of water that seeps into the basement. This alone can save you a few hundred dollars a year and will also put an end to your need for flood protection insurance.
Another way to lower your premiums is to take advantage of your existing property protection policy. Many banks enforce waterbody protection orders or orders of protection that restrict how deep water can go into your property and restrict the amount of water that can be removed. If you have a physical alteration in your property such as a manhole or pipe installed, your bank may enforce this order and force you to keep that area well-maintained. Doing things like adding a sump pump to prevent flood damage can lower your premiums considerably, which is one of the reasons that many homeowners switch to using such a service in the first place.