Ep. 32 – Flood Insurance: What It Is & What It Isn’t

Keywords

flood zones, flood insurance, real estate, home buying, Louisiana, flood risk, insurance requirements, property value, home safety, real estate podcast

Summary

In this episode, Ben Harang and Clint C. Galliano discuss the complexities of flood zones and flood insurance, particularly in Louisiana. They clarify common misconceptions about flood zones, explain the different classifications, and highlight the importance of understanding insurance requirements when buying a home. The conversation emphasizes the need for homeowners to be informed about their flood risk and the implications of flood insurance on property ownership.

Takeaways

·         Flood zones are classified into different categories based on risk.

·         Many people mistakenly believe they are not in a flood zone.

·         Flood insurance is often required for properties in special flood hazard zones.

·         Changes in flood zone maps can surprise homeowners regarding insurance requirements.

·         Understanding flood insurance can save homeowners significant costs.

·         Homeowners should consult with insurance agents for accurate information.

·         Flood insurance premiums can vary significantly based on flood zone classification.

·         Properties in flood zones may require both homeowners and flood insurance.

·         Educating oneself about flood risks is crucial for homebuyers.

·         The conversation highlights the importance of being proactive about flood insurance.

Sound bites

"Everywhere is a flood zone."

"Flood insurance is a big deal."

"It's been real fun."

Chapters

00:00 Introduction to Flood Zones

02:42 Understanding Flood Zone Classifications

04:57 The Impact of New Flood Maps

07:40 Navigating Flood Insurance Policies

10:32 The LOMA Process Explained

12:58 The Importance of Insurance Education

15:54 Conclusion and Final Thoughts

Hosts 

Ben Harang, REALTOR® La. 

License #: 36589 

Keller Williams Realty Bayou Partners 

Mobile: 985.859.2500 

Office: 985.262.4400 

[email protected]

benharang.com 

Clint C. Galliano, REALTOR® 

La. License #: 995704723 

Keller Williams Realty Bayou Partners 

Mobile: 985.647.4479 

Office: 985.262.4400 

[email protected]

clintcgallianorealtor.com 

Produced by Clint Galliano 

Music by Wiggins Studios

Click here to view the episode transcript.