Do You Need Flood Insurance?
The aftermath of Hurricane Sandy may have you thinking about your homeowners insurance coverage and what other kinds of coverage you may need in the future if a similar event were to occur. Did you know your basic homeowners insurance policy most likely will not cover you in the event of a flood? We can’t predict the weather, but if we have learned anything the past couple years it is to prepare for the worst. Even if a rain storm were to bring only a couple of inches of water, it can result in much more repair and restoration than you think. What would you do? Well, you would be better off with a flood insurance policy to protect you.
What kind of protection do you get with Flood Insurance? If you suffer a loss from heavy and lengthy rain falls, storm surges, snow melts, etc. flood insurance can help keep your home and possessions safe. You have options based on the location of your home and the flood history of that area. The best way to figure out the coverage that is right for you is to talk with an agent.
An insurance agent can help you decide if you need a Standard Flood Insurance policy or a Preferred Risk Flood Insurance policy. A standard flood insurance policy can help your building and its contents if your community participates in the National Flood Insurance Program. This is for areas more susceptible to floods. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy. If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. This is for those people that don’t live in an area traditionally thought of as a “flooding area”, but wants that protection in case.
Visit our Flood Insurance Resource Center for more information.
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