If you’re considering getting flood insurance for your home, you should look into the ABN AMRO Forced Placed Flood Policy. This article will cover the Costs and Rates. Before you commit to purchasing a flood insurance policy, consider whether it makes sense for your financial situation. Below are some tips on how to save money with your new flood insurance policy. This is an excellent way to protect your property, as well as your budget.
The costs of ABN AMRO forced-placed flood insurance will increase for 3.4 million single-family homes nationwide. While this amount is comparable to the increase in annual premiums that borrowers are used to under the current system, 627,000 homes will see their costs fall. This is because only 627,000 of the 3.4 million flood insurance policies currently in place in the US will be affected by this change.
Marti Beller Lazear is buying a house on Treasure Island, a strip of land just off the coast of St. Petersburg. After a year of payments, the annual flood insurance policy she is required to purchase will increase from $3903 to $10,655 – more than triple the amount she pays now. Despite her financial situation, she still plans to retire to Treasure Island but says she simply cannot afford the cost of her flood insurance policy.