Natomas Flood Insurance Is About to Become Way More Expensive!
January 29th, 2008
Welcome back! In my first real post I figured I would get straight to the point about the financial reasons why everyone in Natomas should purchase flood insurance now rather than waiting until it is forced on them. The reason is actually overwhelmingly simple and it is something that everyone will understand, the reason is $$$. Everyone wants to save money. Who wouldn't?
Now before I explain, I'm sure many of you have already said to yourselves, "This guy is a moron. He actually thinks he is going to convince me that I have to buy an insurance policy now instead of saving my money and buying one when I have to. No way!" My answer to this line of thinking is quite simply, YES. Here is why: If you buy a Natomas flood insurance policy now you will pay only $317. If you wait until you have to buy a policy when the maps are finalized the exact same policy will go up to $1390.
Why you might ask? There are two main reasons. The first reason is because once the zone is changed in Natomas the area will officially considered high risk and therefore the insurance companies who are providing you with flood insurance are taking a larger risk by insuring you. The second reason is because they can. Once everyone is forced to purchase flood insurance, there is nothing to stop insurance companies from raising their rates through the roof. All flood insurance rates are regulated by the federal government, so every insurance company will have the same rates, and they will all be four times as much as they will be if you buy early.
Still not convinced? How about this? Not only do you get your flood insurance policy for 1/4 the cost if you purchase now, but you will also be grandfathered into a lower rate for as long as you keep the policy. That means that you will not only save over $1000 this year, you will also save every year in the future because of the smart decision you made now.
Now don't get me wrong, I am certainly not going to be hurt if you decide to wait until you are forced to purchase flood insurance. If you wait until it is too late and have to pay 4 times the premium for your policy, that means that my company makes 4 times the commission! So why then am I telling you this. Because like I said in my intro post, I want to be a different type of insurance agency. One that actually cares about our customers and their well being for a change.
