Floods: What You Need To Know
Even small amounts of flooding can wreak havoc on your wallet. According to the NFIP (National Flood Insurance Program), it only takes one foot of water to cause upwards of $27,000 in damages to a 1,000-square foot home. If you think a regular homeowners insurance policy covers losses caused by a flood or heavy rains, think again. You will need a separate flood insurance policy to cover damages caused by a storm, hurricane, heavy rain or ineffective levee.
No matter how well you budget and save for potential emergencies, the cost of flood damage may be more than you anticipate. If you are not in solid financial footing with savings set aside for emergencies, it may be better to get coverage. Flood policies in moderate to low risk flood zones could cost less than your monthly cellphone bill, and could protect your financial assets should a loss occur.
Contact our agency and any one of our highly trained risk managers will make sure that your home is protected.