Flood Insurance Replacement Cost | Why "Bank Minimum" is a Trap!

Описание: When I bought my first home in a flood zone, I made a critical error by confusing the bank's loan requirement with actual flood insurance replacement cost coverage. I thought doing the minimum was smart, until I realized I was leaving myself exposed to hundreds of thousands of dollars in potential losses. In this video, I share the top 5 mistakes homeowners make when getting a quote so you don't fall into the same "bank minimum" trap I did.

Many buyers simply aim to meet flood insurance requirements for mortgage lenders, but this often leads to severe underinsurance if a disaster strikes. We dive into why relying on your home policy for personal property is dangerous and explain the need for separate flood insurance contents coverage. You will also get the math behind the flood insurance deductible explained, showing why a high deductible rarely saves you enough money to justify the risk. Furthermore, we discuss how using an elevation certificate can unlock flood insurance savings and why comparing private flood options against the NFIP is essential. As the Flood Insurance Guru, I want to ensure you build a policy based on replacement cost, not just the loan balance.

What You’ll Learn You will learn how to properly calculate coverage to avoid financial gaps between your loan amount and the actual rebuilding cost. We clarify the difference between building and contents deductibles and reveal why elevation certificates still matter for lowering premiums. Finally, you will discover why shopping multiple carriers is the only way to ensure fair pricing for your property.

Get The Right Coverage Concerned that sticking to the "Bank Minimum" might leave you $100,000 short after a disaster? Whether you need to verify your true Replacement Cost, see if an Elevation Certificate can lower your rate, or want to compare Private Flood vs NFIP quotes to avoid overpaying on deductibles, I can help you secure the right coverage. 👉 Get your personalized flood risk analysis here: https://www.floodinsuranceguru.com/co...

Watch Next Here are three videos to help you lower your costs without sacrificing protection:

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Learn how Houston homeowners are safely lowering costs today.
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Timestamps:
0:00 The "Bank Minimum" Trap
0:40 Mistake #1: Loan Amount vs. Replacement Cost
1:32 The Risk of Underinsurance ($130k Gap)
2:27 Mistake #2: Assuming Contents are Covered
3:20 Mistake #3: The High Deductible Myth
4:10 Mistake #4: Failing to Shop Private Carriers
4:57 Mistake #5: Ignoring the Elevation Certificate
5:50 3 Steps to a Better Quote

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