Flood Insurance

The missing piece to your homeowners protection is flood. Did you know that your homeowners policy specifically excludes damage from “rising water”. Flood Insurance is the only type of coverage which protects your home and belongings from damage caused by “rising water” associated with flooding.

It Covers:

  • Structural Elements, including walls, floors, equipment, & fixtures
  • Contents, such as furniture, appliances, & floor coverings
  • Personal items like clothing, stereos & televisions

Fast Flood Facts:

  • Floods can happen anywhere, anytime, in ALL 50 states.
  • 80% of all natural disasters that strike the United States each year involve flooding.
  • 1 in 3 flood claims are from areas that are not flood prone.  You don’t need to live near water.
  • 90% of floods are NOT considered federal disasters, which leaves the full cost of rebuilding up to the property owner.
  • The most an individual family can receive in FEMA grants is $12600 and the average grant is only $2500.
  • Homeowners are 4 TIMES more likely to sustain a loss from flood than from fire.
  • Flooding is the most common natural disaster.
  • Flash floods, inland flooding and seasonal storms bring flooding to every region of the country.
  • Just inches of water can cause tens of thousands of dollars in damage.

Most homeowners insurance does not cover floods.

  • Only flood insurance financially protects your home and your personal property from floods.
  • A flood insurance policy compensates homeowners, renters and business owners for all covered losses, and as opposed to a disaster loan, there is no payback requirement.
  • The average flood insurance premium is around $500 a year.
  • Outside of high-risk areas, premiums start as low as $119 a year.
  • Once purchased, there is a 30-day waiting period for the policy to become effective, so don’t wait to buy it!

You can purchase flood insurance no matter what your flood risk is.

  • It doesn’t matter whether your flood risk is high or low, you can buy flood insurance as long as your community participates in the National Flood Insurance Program.
  • You can get flood insurance if your house has been flooded before, and you can purchase it even if your mortgage doesn’t require it.
  • About 25 percent of all flood insurance claims come from low- to moderate-risk areas.

Preferred Risk Policies provide protection at the best price.

  • For just $119 a year, homeowners can purchase a minimum of $20,000 building and $8,000 contents coverage ($25 more if there is a basement).
  • Renters can pay as little as $39 per year for $8,000 contents coverage.
  • Business owners can buy $50,000 building coverage and $50,000 contents coverage (per building) for just $550 per year.
  • Business owners who lease their space can purchase $50,000 contents coverage for just $145 per year.
  • To qualify for a PRP, the property must be located in a low to moderate risk zone.

Links to FEMA Flood Insurance information.

Still more questions, Contact Us or call 423-926-7151.