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Geraldine Said:

Is adverse selection lessened if insurers use Env.Agency info on flood risk instead of relying on postcodes?

We Answered:

Insurance companies have the information that is published by the environmental agency, so they are taking that into consideration as well when underwriting is taking place.

Ethel Said:

Do flood insurance policies vary in price from agent to agent?

We Answered:

If your community participates in the National Flood Insurance Program and the agent goes through a company that underwrites for the program, the answer is yes.

However, if your community does not participate or you need additional insurance than what is offered under the program, the agent would have to go to a carrier in the surplus lines market that specializes in flood insurance and the premium could then vary from agent to agent if they are going through different surplus lines carriers.

If you are concerned ask your agent if the quote they will be obtaining for you is through a company that underwrites for the National Flood Insurance Program. Most of the time the answer will be yes. However, if the answer is no, then ask why and they will explain and you can decide if you will need to get additional quotes.

I hope this helps. Good Luck!

Juanita Said:

Flood Insurance - I have a Serious Question......?

We Answered:

No, your insurance company won't penalize you . . . because your homeowners policy doesn't cover FLOOD. Yep, that's right, there's NO FLOOD INSURANCE in the UK, to the best of my knowledge.

So, the FLOOD will penalize you. You'll lose your stuff, or at least have a huge mess to clean up.

So, NOW what will you do?

Velma Said:

Can I get full coverage auto insurance on a car that was once totaled?

We Answered:

The vehicle is still a salvaged vehicle - as it has a salvaged title - regardless of if the engine was replaced. It's up to each insurance companies own discretion if they want to offer full coverage. Again, just because it got a new engine - does NOT change the fact that the vehicle is still a salvaged vehicle and holds a salvaged title - the DMV will not change the fact that it holds a salvaged title.

Edna Said:

Chances are if a building site was flooded it will get flooded and flood again, is Julia Gillard sane?

We Answered:

Well, we could send you George Bush, he did such a *great* job with Hurricane Katrina.

Chad Said:

If I have purchased a piece of property that had flood insurance, is the policy transferrable?

We Answered:

No, policies are NOT transferrable. I strongly disagree with the person above. In any case, if the prior owner doesn't WANT to transfer it to you - which it sounds like he doesn't - you can't have it transferred against their wishes.

Flood is purchasable through the FEMA program, and subject to their rules and regulations. If he's "holding the note" and the title has been transferred to YOU, then YOU are the owner. If this is a land contract, then his name is likely still on the deed, and HE is the owner.

Go to your agent TODAY, the guy that writes YOUR HOMEOWNERS policy on it, and apply for the flood coverage. Since you're not closing, there WILL be a 30 day wait before it kicks in. Then just pray there isn't a flood for the next 30 days in your area.

But the loan NEVER should have closed (it didn't, I'm guessing) without homeowners and flood policies ALREADY ISSUED to you.

Chester Said:

Any opinions on Insurance Agencies in Largo, FL re: RENTER's Insurance?

We Answered:

Just get the renter's insurance where you get your car insurance. You will get a discount this way. Take digital photos or make a video.