This type flood protection insurance provides coverage against damage done by the rising or overflowing of bodies of water. Our insurance agents in California can provide you with additional information.
Why do I need Flood Protection Insurance?
Flash floods are the number 1 weather related killer in the U.S. they can roll boulders, tear out trees, and destroy buildings and bridges. Over 25% of flood insurance claims come from low to moderate risk areas. Flood insurance provides coverage for Buildings and contents up to $500,000 and is underwritten by the Federal government. Even if you live in a low hazard flood area your property may still be at risk.
There are a number of very important questions you should ask your insurance agent before deciding on the flood insurance policy that is right for you. The first thing your agent will want to know is whether or not your home or business is located in a high-risk area. Your agent may even ask for an “elevation certificate”, a risk rating that helps builders ensure compliance with local floodplain ordinances and helps agents determine what types of policies are needed. Here are a few basic questions you should have in mind when discussing policies with your insurance provider:
- Do I live in a flood zone? If so, how will my location affect the cost and benefits of my policy?
- What will be covered by my new policy and what won’t be covered?
- How much is the cost of the policy fee and premium, and are there hidden expenses or fees I need to know about?
- Do I need coverage for my building only, its contents only, or both?
Don’t wait until the water’s rising to decide that you need Flood Insurance. Because floods are not extremely common natural disasters, many people don’t feel the need to protect themselves with flood insurance. However, even a few inches of standing or moving water can cost thousands of dollars to home or business owners.