In this episode of the Real Estate Update Podcast, host Paul Centopani speaks with John Dickson about how homeowners and homebuyers can better understand their flood risk and determine whether flood insurance makes sense for their property. John explains why FEMA flood maps may not always reflect current conditions, how changing development and weather patterns can affect flood exposure, and why being outside a designated high-risk flood zone does not necessarily mean a property is safe from flooding.
The conversation also covers when flood insurance is required by a mortgage lender and why homeowners may want to consider coverage even when it is optional. John discusses the differences between the National Flood Insurance Program (NFIP) and private flood insurance, including how homeowners can evaluate their options rather than assuming there is only one source of coverage.
John and Paul also discuss the financial consequences of flooding, rising insurance costs, and the importance of looking beyond a property's current flood-zone designation when evaluating risk. John explains how homeowners can take steps to mitigate potential flood damage and why buyers should investigate a property's flood exposure as part of the homebuying process rather than waiting until after closing to think about insurance.
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Comment below: Is flood risk something you would investigate before buying a home, even if the property isn't in a high-risk flood zone?
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Connect with John Dickson:
Website: https://www.aonedge.com/
LinkedIn: https://www.linkedin.com/in/john-dickson-4168143/
First Time Homebuyer Cheat Sheet: https://bit.ly/4w8CiVM
Homebuyer Calculators:https://bit.ly/4n0hDPv
Connect With a Lender: https://bit.ly/426Gyaw
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0:00 – Intro
0:28 – Why Flood Maps May Be Outdated
2:39 – How Many Homes Face Climate Risk?
4:13 – Proposed Changes to Federal Flood Insurance
6:30 – NFIP vs. Private Flood Insurance
8:19 – How Much Flood Insurance Do You Need?
10:40 – Why Flood Insurance Premiums Are Changing
12:50 – Is Flood Insurance Required?
14:14 – Should You Ever Skip Flood Insurance?
16:39 – How to Protect Your Home From Flooding
18:00 – Advice for First-Time Homebuyers
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#FloodInsurance #FloodRisk #Homebuying
