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Flood insurance provides protection for destruction and financial devastation caused by floods. Although it may not seem like much, even a few inches of water can cause damage and result in thousands of dollars in repair and restoration costs. Homeowners insurance does not typically cover floods. Purchasing Flood insurance through Massey, Clark, Fischer can protect you.
Although it may not seem as necessary as homeowners insurance, flood insurance is important if you plan on keeping your home safe and your possessions secure. Flood coverage offers protection against losses that result from heavy and lengthy rain falls, rising water,storm surges, etc. You may recall that in 2005 in New Orleans during Hurricane Katrina the ocean’s storm surge extended some 10-15 miles inland.
Different types of policies are available based on your property’s location and flood history:
- Standard Flood Insurance Policies
If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by a Standard Flood Insurance policy. The NFIP was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a Standard Flood Insurance policy.
- Preferred Risk Policies
If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost Preferred Risk Policy. While you are not required to purchase flood insurance in low-to-moderate risk areas, a Preferred Risk Policy will protect your home and its contents if you are affected by a small flood or a larger flood or a storm surge that has extended into your low risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.
Don’t wait until it’s too late. Contacting Massey, Clark, Fischer today will get you on the path to flood protection with an affordable and comprehensive insurance policy.Back