Why Everyone May Want to Consider Flood Insurance

Why Everyone May Want to Consider Flood Insurance

Here in the Eastern portion of the United States, we have experienced several large storms over the past few years that seemed to bring everyone to their knees with all the damage they caused.  This year is the 10 year anniversary of Hurricane Katrina that tore apart New Orleans and surrounding areas to the tune of over $125 billion in damages and over 1.7 million insurance claims filed.  Closer to home, Superstorm Sandy recently caused significant damage to our area making everyone reconsider the insurance they had at the time.

Unfortunately, storms are becoming a common occurrence and are expected to just get worse over the years according to PBS.org.  Being prepared for them sometimes means more than just battening down the hatches and hoping for the best.  Preparing for the worst by having the right insurance policy in place can help when storms ravage your home and/or your belongings.

One of the coverages you might want to consider is flood insurance.  Many people are not aware that typical homeowner’s or business insurance policies do not cover flood damage at all.  A separate flood insurance policy is needed to file a claim for flood damage of any kind.  Flooding is considered to be any water that comes from the ground up.  That includes not only storm waters, but melting snow, flash floods due to broken dams, and any type of water seepage that could cause damage to your home or business.

Getting a quote for a flood insurance policy is easy.  Just contact your homeowner’s insurance agent to find out what type of premium you could pay for a flood insurance policy in your area.  Ask about structural coverage as well as contents coverage.  They would be considered two separate policies.  Have the right protection in place for those times when you need it most.


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