Early Spring is a good time to start thinking about flood insurance due to snow melt in surrounding areas. As you can see in this graphic, flooding can come in many different forms:
Coverage for buildings and belongings impacted by water damage specifically due to flooding can save you lots of money in the long run.
Flood insurance is a good idea for homeowners living outside flood zones because programs like FEMA's Individual Assistance (IA) can provide some financial help, they only do so after a presidential disaster declaration. The average IA payments are tiny in comparison to the average NFIP claim. For example, home owner's average claims from Hurricane Harvey were about $116,800, while the average IA payment was only $4,400. To see whether a property lies in an area that triggers the mandatory purchase requirement, visit FEMA's Flood Map Service Center.
That's where we can help. Purchasing a flood insurance policy, covering buildings and belongings impacted by water damage specifically due to flooding, is one of the best ways to protect yourself from the financial impacts of a flood.
Did you know?
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Flooding can be financially devastating to households – just one inch of rain can cause $25,000 of damages to an average home.
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Flooding threatens communities regardless of whether they sit near a coastline; 99% of US counties have been damaged by a flooding event in the last 25 years.
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The average annual flood insurance premium is about $700.
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There is a waiting period before your flood insurance policy goes into effect, typically 30 days from the application and premium payment date
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You can still purchase your flood policy through our agency—even if you don't have an existing property policy with us.
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Most flood insurance policies and basic property insurance policies do not cover water backup damage. This type of damage is typically caused by water that overflows from a sump pump or backs up through sewers or drains.
Contact us today to see how we can help with flood insurance and protection against water back up damages.