Do I have to have my flood insurance cover the amount equal to the ...

Question by ??? Crystal ???: Do I have to have my flood insurance cover the amount equal to the cost of my new home?
Can I just pick the lowest amount of coverage? Say my home costs 72,000 can I get the insurance that will cover up to 35,000 in damage to the building? I have to have flood insurace if I buy this house because its in a high risk flood area, however it is supposed to be coming out of the flood plain later this year, so I really just want the flood insurance that will cost the least. Any adivce?

Best answer:

Answer by babyshoes
penny wise pound foolish.
if you save a few pennies by cutting your coverage you are taking a big risk with a big investment.
do you have to do anything,no.

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Source: http://thirdpartyinsurance1.com/2011/05/do-i-have-to-have-my-flood-insurance-cover-the-amount-equal-to-the-cost-of-my-new-home-cheap-car-insurance-brokers/

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