Flood insurance is not a covered peril on a homeowner’s policy. Anywhere it rains, it can flood, and flooding is the most common natural disaster in the country. The damage that occurs due to just one inch of water can lead to more than $20,000 in repairs to your home and replacement costs for your belongings. Flood insurance is the best way to protect your home from the damages of floods. Flooding isn’t just restricted to areas that are prone to hurricanes or are near large bodies of water. A quarter of all floods can come from areas that are considered to be at low to moderate risk for flooding. Floods can happen anywhere where the ground doesn’t absorb the extra water, which is why having flood insurance in the state is so important. Flood insurance is designed to protect you.
You can get flood insurance as long as you meet specific requirements. Your building must be located in a community that participates in the National Flood Insurance Program. However, almost every community in the country does participate in this program. If you are unsure about if your community qualifies, contact an agent at The Heuman Insurance Agency to find out. Flood insurance is also considered catastrophic coverage, which means there are certain limits. The maximum amount for residential buildings is $250,000, which includes the structure, and then $100,000 for the contents of the home. There is a 30-day waiting period between when you submit your application and the effective coverage date. This means you can’t wait until a storm is approaching in order to be covered. While there may be other programs that are designed to provide disaster relief in the event of a flood, these aren’t guaranteed. Usually, a federal disaster will have to be declared, which doesn’t always happen, and these programs are traditionally loans where you have to pay back the money.
Contact The Heuman Insurance Agency to get a quote on flood insurance.