insurance

Drying up 6 myths about flood insurance

Myth: Flood plain maps don't change
Myth: Flood plain maps don't change

Flood plains (and flood plain maps) change and evolve. Just because you weren't in a flood plain when you bought your home a few years ago doesn't mean you're not in one now.

There are a few ways you can find out about your flood risks and if you may be in a flood plain.

  • FloodSmart.gov: This site will allow you to put in your address and see if it's in a flood plain, and give you information on risks, premiums and agents, says Griffin. But use it as one tool, not the final word on whether your home is in a flood plain.
  • Your agent. When it comes to researching whether your home is in a flood plain, you definitely want someone knowledgeable to research the question for you, Griffin says. And, preferably, more than one agent.

And get a second opinion from a different agent, he says.

"Agents have different levels of sophistication with regard to this product," says Griffin. "You get a different answer sometimes. So you make a couple of checks to make sure you're protecting yourself."

advertisement

Show Bankrate's community sharing policy
          Connect with us

Compare multiple quotes in just 6 minutes

Get competing rates from top companies including:
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jay MacDonald

Dancing with the Obamacare stars

Even if your Obamacare health plan auto-renews, taking these extra steps could save you time and money.  ... Read more

advertisement
Partner Center
advertisement

Connect with us