SORRY, YOU ARE WRONG. |
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| The
answer is false. The price of flood insurance is based
on the risk of flooding. The average flood insurance policy costs a little
more than $300 a year for about $100,000 of coverage, but people in low-risk
areas can generally purchase protection for less. In order for you to buy
flood insurance, your community must follow flood-loss prevention guidelines
set forth by the Federal Emergency Management Agency.
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