2023 – How Much is Flood Insurance in Alabama?
How much is flood insurance in Alabama?
Floods can happen anywhere, at any time. It can be a painful experience, especially when you have to think about all the damage to your home and all the costs involved in getting your life back together. With unpredictable weather patterns that bring flooding to unexpected places, it’s important to consider flood insurance for your home in Alabama.
There are different levels of protection available depending on where you live. Knowing how much flood insurance in Alabama will cost you is part of protecting what matters most.
Our team of Flood Nerds is experienced in understanding all the options available for your property so that you can confidently make an educated decision. Most of our clients save from $500 – $2,500 on their Alabama flood insurance by moving to one of our many private flood insurance options.
To determine the cost of flood insurance in Alabama, certain variables need to be considered. For an accurate estimate, we’ve created a quick calculator below. But, to obtain a reliable assessment, we recommend requesting a free quote that only takes a few minutes to complete.
Most of our clients in Alabama pay between $500 and $1,500 for home flood insurance.
Learn how much flood insurance coverage could cost for your Alabama home with us today.
Finding Cheap Flood Insurance in Alabama, the Flood Nerd™ Way
You’ve probably heard it before – finding cheap flood insurance in Alabama can be daunting. But have no fear; flood nerds are here! If you’re looking for cheap flood insurance in Alabama, then you’ve come to the right place. We shop for the cheapest flood insurance policies that don’t compromise on coverage and have a few exclusive cheap Flood insurance companies in Alabama. Let us show you how we do it.
Step 1: Get us your information by filling out our online form
The first step to getting your cheap flood insurance in Alabama is getting your Flood Nerd your property information using our online form. This will allow us to shop your property and compare it to the NFIP to ensure you get the cheapest flood insurance policy.
Step 2: Shop Around and Compare Rates
Don’t just accept the first quote you get from your local agent – let a flood nerd shop around and compare rates to our pre-flood nerd-approved options to ensure you have found a flood insurance company with your flood nerds’ help getting the better deal. The NFIP has had a monopoly on flood insurance for many years, and now it is time to save money in Alabama.
Step 3: Utilize Exclusive Companies
Since Flood Nerds only work in flood insurance, we have many more options than others, and we have some exclusive relationships with several companies that can offer low-cost policies not available to an agent that isn’t a flood insurance expert in Alabama – giving our customers access to even more savings opportunities than they would find elsewhere. By leveraging our exclusive relationships, customers can save hundreds of dollars on their premiums while still receiving better coverage and peace of mind knowing their property is protected from floods.
It doesn’t have to be difficult or expensive to get quality flood insurance in Alabama. With Flood Nerds on your side, you can feel confident that you’re getting great coverage without compromising on coverage or quality of service. We understand that everyone’s situation is different, so we strive to provide personalized solutions tailored specifically for each customer’s needs and budget constraints – so why wait? Contact us today, and let us help you find cheap flood insurance in Alabama!
Flood Insurance Rates Alabama | Flood Insurance Alabama
Does my Alabama homeowner insurance cover flooding?
A typical Alabama homeowners’ policy is written through Farmers, State Farm, Allstate, and Progressive, for instance, excludes flooding as something that will be covered under their homeowner’s policy.
In most cases, the only way to get flood coverage is by purchasing a stand-alone flood insurance policy. However, you should ask your homeowners agent if you can add an endorsement to your homeowner’s policy to cover flooding. Yet, don’t be too surprised if the answer is NO.
Do I need flood insurance in Alabama?
It is important to have flood insurance coverage in Alabama because our beloved Cowboy State has seen a fair share of flooding, and more is likely coming.
Most homeowners think about Flood insurance in Alabama at some point, maybe before buying a home or during the closing process. Many of us only think about it when a big storm looms. Or we hear on the news that flooding is forecasted, or we see water too close to our home.
If your home or business is in a flood zone, that is considered a low flood risk area. Sadly, many homeowners decide to forgo purchasing coverage because they believe they are safe from flooding. Some real estate and insurance agents may even say you don’t need it.
I ask you to consider the facts: 20 percent of all flooding events across our nation come in areas that are considered low risk. After our last few major storms (Hurricane Harvey), we saw flooding in these low-risk areas. 80 percent of these individuals had water in their homes or building and didn’t have flood insurance coverage.
Alabama Flood Zone Map
In Harris county, nearly 135,000 homes were damaged. Three-fourths of these properties were considered low to moderate risk.
We often hear that people believe the government will help, which is true. However, a few things must align for you to get government assistance.
- The president of the United States must declare the flooding event a state of emergency. If this doesn’t happen, then there won’t be assistance.
- Homeowners get average assistance after a flood when they do not have flood coverage is $5,000. The average cost of damage to one’s property after a flood is $38,000+. That $5K you get from the government? It comes as a loan, and you will need to pay it back. Are you willing to gamble on your financial future by forgoing flood insurance coverage?
Alabama Flood Map
One more note on these low-risk flood zone maps. Many of these maps are over 40 years old. If the area has been developed, there is likely more concrete, creating a barrier for land that previously might have absorbed the massive downpour.
Because of all these factors, it is difficult for property owners to know their true risk of flooding. FEMA admits that their flood maps only give an idea of part of the risk. Our recent storms are facts that it can rain anywhere within Alabama, and you should consider getting flood coverage so you are not uninsured when you need it most.
FEMA flood zone maps often take years to go into effect after the terrain was studied. This gives the impression that the area is “more up to date” than it is.
The average cost for Alabama flood insurance in these Low-risk areas is $595 per year.
FEMA’s National Flood Insurance Program (NFIP) and all federally backed lenders rely on these Alabama flood insurance maps to assess risk, set premiums, and determine who is required to purchase flood insurance. Bad information about an area’s flood risk can leave property owners under or uninsured.
How much is flood insurance in Alabama?
Alabama NFIP flood insurance.
There are many options available in Alabama regarding flood insurance, but they fall into two main categories. The Government Policy also called the NFIP or FEMA, and the Private flood insurance market.
The National Flood Insurance Program (NFIP), also known as FEMA, is the government option for flood insurance. The NFIP has enjoyed a 50-state monopoly on the flood insurance market.
Not “private flood insurance” but NFIP Resellers
Suppose you have Nationwide Flood Insurance, State Farm Flood Insurance, Progressive Flood Insurance, or any of the logos below. In that case, you are buying the NFIP flood policy that is just being resold through a government program. These companies are private companies, but their flood insurance is not. Here is a list of the 70 companies that resell the NFIP policy.