Did you know that most property insurance policies do not cover flood losses? If your community participates in the National Flood Insurance Program (NFIP) you can get federal flood coverage for your home or business.
Why do I need this insurance?
Over 90% of all presidential-declared disasters in the United States are flood related. Leveling forests, overbuilding the land, and increasing use of asphalt all reduce the soil’s natural ability to absorb excess water, compounding the risk of disastrous flooding. Most homeowner, renter, landlord and business insurance policies exclude coverage for flooding.
What is a flood?
- Run off or unusual or rapid accumulation of surface waters from any source, such as heavy rainstorms, melting snow.
- Overflow of inland or tidal waters.
- Mudslides caused by flooding.
- Storm surges caused by tropical storms or hurricanes.
What should I consider?
Don’t rely on federal disaster assistance alone. Less than 50% of all flooding incidents are declared federal disaster areas. When an area is declared a federal disaster, assistance is provided in the form of loans that must be repaid - principle plus interest.
Whether you can purchase flood insurance and how much depends directly on your community’s flood program status.
Learn more about flood insurance and see if your home or business is eligible… Call today.