While flood insurance is one area that is often neglected by homeowners, those who live by the coast or in flood zones should know how important a good policy can be. If you’re concerned about expensive flood damage, excess flood insurance could be a good option. While these policies are generally more expensive, a number of factors go into creating a policy. Elevation level, location, age of the home, the direction the home faces and how far away you are from the water can all impact the price. Seeing as you’re likely to spend a fair amount on a policy, you may want to conduct some research before you go shopping.

Finding a broker who knows this particular insurance product and has sold it many times before should have the experience that can be a huge source of comfort. The factors that go into pricing an excess flood insurance policy can change with each company. Some companies might even have rules against insuring your house because of the location or how it was built. When you think you’ve found the perfect policy, make sure you know exactly what it doesn’t cover. Typically expensive items like jewelry or art is not covered, and sometimes basements in homes near water are not covered either. When researching this important and costly insurance policy, consulting an experienced broker can help you find the gaps in your coverage so you can find the insurance product you need.