Flood insurance, do you need it?

7/11/2019 (Permalink)

According to the National Flood Insurance Program (NFIP), flooding is the most common natural disaster in the United States, affecting every single state. While hurricanes are mostly responsible for massive flooding disasters, other causes of flooding from outdoor sources can include snow melting and heavy rain. While many homeowner insurance policies cover flooding from sources inside your home like a broken pipe or leaky water heater, they typically do not cover flood damages from outdoor sources. It may be a wise idea to purchase a flooding insurance policy, even if your home isn’t in a high-risk area. Just one inch of flood water can cost thousands of dollars! Purchasing a flood insurance policy may save you time and money, helping you and your family recover faster. 

When should I purchase a flood insurance policy?

Your home does not need to be in a high-risk area to experience flooding. Floods can happen anywhere.  More than 20 percent of flood claims come from properties outside the high-risk flood zone. It is wise to look at your neighborhood and talk to longtime residents about the frequency of flooding.  If there is a pattern that is concerning, it may be a good investment to obtain a flood policy.  So, when exactly should you purchase a flood insurance policy? A flood insurance policy typically takes 30 days to go into effect. Any damages that occur before the 30 days, will not be covered. Essentially, now is the right time to purchase a flooding policy if you need one.  

What is covered by a flood insurance policy?

A flood insurance policy covers outdoor flooding sources on two types of property: the structure of your home and the contents within it. Remember, each has their own deductibles. The coverage for the structure of your home typically includes:

• Water heaters
• Electrical and plumbing
• Central air systems and furnace
• Foundation
• Refrigerators, cooking stoves and built-in appliances, etc.
• Damage done to walls and floors etc

Contents covered under your flood insurance policy can include:

• Furniture
• Clothing
• Electronics
• Washer/dryer
• Curtains, wall hangings, and other personal items.

How Do I buy flood insurance?

Speak with your insurance agent, to learn more about the government assisted flooding insurance and private insurance policies. Your insurance agent well know what insurance policy is best suited for your home or business.

SERVPRO of West Brown County is ready to cleanup water damage

Cleaning up water damage is critical to prevent any mold growth and further damages. Hiring a professional company can make things easier for residential and commercial property owners. Here at SERVPRO of West Brown County, we pride ourselves with being able to handle any-sized disaster, both commercial and residential.  Call us today! (920) 434-8224.