Making Changes to Flood Insurance in Texas

Can I Make Changes to the Coverage of Flood Insurance Policy?

Yes. You can make changes to the coverage of your flood insurance policy before renewing it so the changes can reflect on your policy. This is because some of these changes may affect the cost of your premium, and flood insurance is paid yearly. Hence, the changes will only take effect the following year if they are made before renewing your policy.

What Can Be Changed in Flood Insurance?

The changes that can be made to your flood insurance are:

• Increase or reduction of your deductible. If you can no longer afford to pay the regular flood insurance price and do not want to terminate your policy completely, you can increase your deductible. This will consequently reduce the cost of your flood insurance premium. However, note that in the event of flood damage, you will have to bear most or all of the cost of repair or replacement. On the other hand, you may reduce your deductible if the flood risk in your community becomes higher due to climate change.

• Coverage amount change: Flood insurance offers varying amounts of coverage. Sometimes, you may find yourself in a situation where you need to increase or reduce the current amount of coverage you are getting. An example is if your current residential building coverage only covers damages worth $50,000, and you want to increase the coverage amount because you need to be more protected.

• Adding or removing things listed on your flood insurance contents coverage: An example of this is if you get a new appliance that needs to be covered under your current flood insurance plan.

How Can I Make Changes to an Active Flood Insurance Policy?

You can make changes to your active flood insurance policy by contacting your flood insurance provider and letting them know the changes you would like to make.

Can I Add Property to Flood Insurance?

Yes, you can add a property to your existing flood insurance policy by contacting your insurance company to let them know the property you want to add. You will not necessarily have to get a separate policy for each property, except if you have exceeded the coverage limit of your current policy. In this case, reach out to your insurance agent to get personalized guidance on how to add a property to your flood insurance.

Can I Remove Property from Flood Insurance?

Yes. You can remove property from your flood insurance policy by contacting your flood insurance provider. However, this is best done before renewing your flood insurance policy.

What Can Be Changed in Flood Insurance without your Consent?

Nothing can be changed in your flood insurance without your consent.