 TITLE: What Does Flood Insurance Cover? CONTENT: How to Save Money on Flood Insurance\n------------------------------------\nSome factors that determine your premium will be out of your control, but you can also take measures to reduce your policy cost. In addition to shopping around, here are some of the other ways you can bring down the cost of flood insurance:\n*   **Reduce your risk factors.** Your insurer may offer you lower premiums if you reduce the likelihood of damage. One of the ways you can do this by moving heating and cooling systems out of flood-prone spaces, like your basement, or placing them on elevated platforms. Conduct additional research and talk to an expert or your insurer about other flood mitigation modifications you can make to your home or property that could help reduce your risk.\n*   **Raise your deductible.** By electing to increase your potential out-of-pocket cost, you can reduce your monthly premium. Just be aware that this option will mean paying more before your insurance kicks in to cover the damage your property has sustained.\n*   **Improve your credit.** Depending on where you live, your credit score can affect your insurance premium. You could reduce the cost of flood insurance by reviewing your credit file and working to improve your score. Rules vary by state, however, and some insurers won't consider your credit as part of your rate calculation.\n*   **Lock in a low rate.** If you don't live in a high-risk zone, you could save money by buying insurance now and locking in a low rate. If a change in your area makes it higher risk, you could avoid the eventual rate increase.\n*   **See if you qualify for a discount.** If you live in one of the roughly 1,000 communities that participates in FEMA's Community Rating System (CRS), you may qualify for discounts on your premium. You could also encourage officials in your community to participate. Becoming a CRS participant could help reduce flood risk factors for your home and help bring down your insurance rate. END