DON’T BE AFRAID TO FILE AN NFIP CLAIM

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Release date: 
October 18, 2013
Release Number: 
NR-059

DENVER – If you had flood damage, don’t be afraid to file a claim under the National Flood Insurance Program (NFIP). Unlike other property policies that often use prior claims to determine premiums, NFIP premiums do not rise due to the filing of a claim.

Flood insurance premiums under NFIP are not determined the same as homeowners policy premiums.  NFIP premiums typically reflect flood risk—if a dwelling is built in a high-risk area, the higher it’s built above what’s called the Base Flood Elevation (BFE), the lower the premium will be --because the potential for flood damage is diminished.

Last Updated: 
October 18, 2013 - 10:23
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