Skip to main content
Personal Insurance

Flood Insurance and Why It’s Important

By September 17, 2018 No Comments
rain-boots-in-flood-water

Standard homeowner’s insurance policies do not cover flood and floods are one of the costliest and most frequent natural disasters.

What does flood insurance cover?

Flood insurance covers water from outside that rises and causes damage to your home and at least one other home. This can be caused by overflow of waters or the rapid accumulation of surface waters. Sump pump failure or water backing up through sewers or drains is a separate coverage add-on available on your home insurance policy.

What is my risk?

According to National Flood Services Inc., 25% of all flood claims annually are in low-risk zones. That means that even if you are not in a zone designated as a special risk hazard zone, you could still experience a flood loss.

We can provide you with a personalized risk map and report at your home or business.  This handy report can tell you what your flood risk is, the number and value of flood losses in your community, as well as the average claim in your area. If you are interested in obtaining a report, please send us a quick email.

Estimated Flood Loss Potential

According to flood statistics from 2017, the table below estimates the loss potential of flood for a 2,500 square foot, one-story home with possessions worth $50,000.

Estimated-Flood-Loss-Potential-Table

Source: National Flood Services, FloodTools.com
Estimates based on national FEMA flood loss tables of cash value loss.

You can calculate your loss potential online.

What is the cost?

Flood insurance premiums start from around $450 in low hazard zones within inland areas. Flood insurance premiums are calculated based on your flood zone, proximity to the coast, and characteristics of your home.

Count on Us

If you are interested in obtaining an insurance proposal or to learn about your personal risks, contact us today to learn more.