Flood premium reduction services - is it worth a try?
Original post made by Natalie G, Midtown, on Mar 4, 2008
I am sure many of us in Palo Alto received an offer in mail from Flood Premium Reduction Services, Inc to do a study (for $50) to determine if the property needs to be flood insured. They claim that depending on certain factors (drainage, construction type, etc) one might be eligible for eliminating or reducing flood insurance premiums. Has anyone used their services and been successful in reducing or eliminating flood insurance premiums? My mortgage company requires me to buy flood insurance which costs about $800 and I wonder if it is worth pursuing this.