Slash Flood Costs Secrets Hidden in NFIP Insurance

Exploring Policy Options and Discounts

When considering NFIP insurance, it's crucial to understand the different coverage options available. The NFIP offers two types of coverage: building property coverage and personal property coverage. Building property coverage helps cover the physical structure of a home, while personal property coverage protects the contents within it. Policyholders can choose to purchase either one or both, depending on their needs and budget.

Moreover, policyholders may benefit from discounts by opting for higher deductibles. By increasing the deductible amount, you can potentially lower your premium costs. However, it's important to weigh the savings against the potential out-of-pocket costs in the event of a flood claim.