Floods happen. Don’t let rising waters cost you your home.
It doesn’t take living near the coast or a large body of water to be affected by a flood.
Even if you live far away from a water source, you can still be a victim of flooding. Protecting yourself is easy. Flood Insurance is available to most homeowners, renters and business owners nationwide.
Think it Couldn’t Happen to You?
Floods can happen any time of year, from a wide range of sources. Heavy rains, melting snow, poor drainage systems, and hurricanes can cause flooding. Everyone lives in a flood zone, which are areas of low, moderate and high risk. Just because a flood hasn’t happened in the past, doesn’t mean it won’t in the future.
How Flood Insurance Can Protect You
A flood insurance policy is different than a basic hazard insurance or homeowners insurance policy, as it only covers losses that occur due to flooding. Standard homeowner’s insurance policies will cover most other losses as long as they are not related to flooding. These claimable events include losses sustained by fire, wind damage and falling trees, to name a few. Unlike a standard hazard policy, flood insurance requires a policyholder buy separate policies to cover a dwelling and its contents.
Flood insurance policies are available for all homes and commercial properties, not just the ones that are determined to be in the National Flood Insurance Program’s (NFIP) flood plain. However, properties that are located in a flood zone and are mortgaged by a federally backed lender will require adequate flood insurance coverage to receive financing. The NFIP regulates the pricing of flood insurance policies, and the cost will not differ between agents. Factors such as the zone designation, age of property, number of floors and use of dwelling can impact premium pricing.
Also note, there is a 30-day waiting period before a flood policy takes effect, therefore, do not wait until it’s too late. Only a flood insurance policy can offer the protection and peace of mind you need for your home and your belongings in case of a flood.