What would you do if your home or business were hit by a flood? Are you covered for this type of loss? Would you be able to financially recover?
Most people know that Flood is not covered by their standard Homeowners Insurance policy or their Commercial Property Insurance policy. Flood Insurance can be very affordable whether you live in a low to moderate flood zone or a high-risk zone. According to FEMA, anyone can be at risk for flood damage. Generally, 20% to 30% of flood claims come from low to moderate flood risk zones. Disaster relief may offer some financial support after a large flood event, but may need to be repaid back overtime.
Over the past 10 years, the average flood claim has reached a dollar amount of $48,000. This is a substantial amount of money for a homeowner or business owner to shoulder on their own. The dollar amount will increase exponentially based on the height of the flood, although even a small flood can cause substantial damage to a building and its contents.
Flood Insurance is written with two separate limits and deductibles so a policy can be customized to fit everyone’s needs. You can have only building coverage or only contents coverage for your personal property if you are renting, or both. There is generally a 30-day waiting period for any new Flood policy, so the time to buy is now! Call us today to speak with one of our professional customer service representatives about protecting yourself with a Flood Insurance policy. 508-485-0130