Wells Fargo has a habit of requiring that flood insurance be at the same level as hazard insurance. We live in an area that is flat, has no rivers, but because of drainage, our street will flood.
Our house has never flooded, never will, but Wells Fargo does not listen to us or our insurance provider. We owe 32,000 on the house and they require 129,000 of flood insurance which costs us about 1,000 more a year. If you do not pay for the same level for flood insurance , they purchase it for you from their insurance companies at a very high rate.
I am sure that they make millions from this practice. This is why I hate them.
Monetary Loss: $1.