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What If Your Home Is in a Flood Zone?

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Today, we want to talk to you about homeowners insurance. Bradley Maruyama from Allstate Insurance is with us to answer a few questions, as there are a few things that could affect the cost of your insurance. Let's talk about flood zones or flood insurance.

What are the different flood zones?

The most common flood zones in Hawaii are V, A, X, D, and Z. The most volatile flood zones are the V zones. These are located near the coastline and beachfront properties. A zones are found near riverways, lakes, swamplands, and reservoirs. The most common flood zone is X, which is actually the most unlikely place to have a flood. D and Z are zones where flood hazards are undetermined, but still possible.

How do different flood zones affect the cost of your homeowners insurance?

The most volatile flood zones are the V and A zones. Some V zones on the coastline could cost you as much as $24,000 per year. Your Realtor and loan officer are working very hard when it comes to making sure you are qualified to buy your dream home. When your monthly rates go up because of the flood insurance, you might not qualify to buy your dream home. So, when you're shopping in V and A zones, keep in mind that the homeowners insurance will raise your monthly payments.

For more information on flood zones visit this link! If you have any questions, please do not hesitate to contact us. If you have any questions for Bradley, you can give him a call at (808) 591-8016. We look forward to hearing from you!