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Home Insurance in Middletown : Real Estate Advice

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Activity 2
Thu Apr 7, 2011
Daniel Benbrook answered:
How is my flood insurance premium calculated?
A number of factors are considered when determining your flood insurance premium. These factors include: the amount and type of coverage being purchased, location and flood zone, and the design and age of your structure. For homes in high-risk areas (e.g., Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also required. For more information, visit Flooding and Flood Risks or download Flood Insurance Basics. I hope this was helpful. It is basically different from home to home. ... more
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Mon May 17, 2010
hazelgray answered:
Be sure to get the high deductible and you can keep the price low, been on the wet side of Port Monmouth for 8 years with no floods, and they say I'm in a "high risk" zone. My neighbors have been here 30+ years and said they've never had a flood either. I just saw that it's up for rezoning in 2012 though, so hopefully by then they will eliminate the need with all the new construction around that built up the area. Even in the horrible floods in NJ earlier this year, we didn't get hit. Another fact is that you only have to get the insurance to cover the amount of your loan, not the full price of the house, that can lower the cost as well, especially if you requote it every year as you pay down principal on your loan. Doesn't cost anything to do this, just a few minutes of your time. ... more
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