Quote:
Originally Posted by brunette-T
Just trying to get a rough estimate here on how much a flood policy would run. we're looking in baldwin harbor.
TIA!
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Like with all other forms of commercial and personal liability insurance, this question is impossible to answer. There are so many underwriting factors that go into generating a liability quote for a specific risk (in this case, the risk being a residential dwelling and the product being flood insurance).
For starters, no two risks are alike...EVER. This is based on the following factors (which is not even a complete list):
-Address of the property
-Dwelling location with respect to coded flood zones
-Dwelling location with respect to the flood plane (an elevation certificate on your property will reveal this via site survey)
-If the dwelling is elevated (e.g. via pilings)
-What the lowest level of the dwelling is (1st floor is very different from a basement with regards to the lowest level)
-What items are located in the lowest level of the dwelling (e.g. boilers, water heaters, fuel tanks, etc.)
-Amount of coverage desired (up to $250K for dwellings, up to $100K in contents)
-etc, etc,
As for averages, I cannot give you any. All I can say is I've written flood policies for $500 and I've written them for $2500. Every case is different.
With that said, the best way to find out what
your particular cost for flood insurance on Long Island (or in New York) will be is to either seek out an insurance broker or go to FEMA's website. Get a fully underwritten quote to get your answer.
Hope this helps. If you need more information, shoot me a private message.