how much does flood insurance cost for a single family home in Cambridge, Md 21613 (NOT in a flood zone!)?

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  1. Reply
    July 21, 2011 at 3:19 am

    Call a insurance company and find out.

  2. Reply
    July 21, 2011 at 4:11 am

    The premium is the same not matter where you go, it is set by the federal government. If your town participates in the NFIP (National Flood Insurance Plan) and you are in zones B, C or X (considered the low risk or preferred areas), and you have not had a prior flood, you may qualify for the Preferred risk policy. The maximum limits available are $ 250,000 dwelling with $ 500 deductible and $ 100,000 contents with $ 500 deductible & the cost should be $ 352/yr. The premium is payable in full at the time of application and there is a 30 day waiting period for the policy to start. The only time that the waiting period is waived would be if you needed it for closing on a loan. Since you are not in a special hazard flood zone, a mortgage company would not require flood insurance so the waiting period would apply.

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