What Is Flood Insurance And Why Do I Need It?
Weather can be extremely unpredictable. No matter where you live, protecting your home with flood insurance coverage from a respected insurance agent is highly recommended. Whether you are in a designated flood zone or not, it is important to speak to you insurance agent to find out the best flood insurance protection for you and your family.
Definition Of A Flood
According to the National Flood Ins. Guide from the Federal Emergency Management Agency, a flood is short-term situation where land that is two or more acres in size or two adjacent properties that are normally dry are flooded with water. The cause of a flood can be from overflowing rivers and tides, quick accumulation of surface water, mudflows and land collapse due to erosion from waves and currents.
Purchasing a Policy
Many that live near a river, lake or ocean often seek some level of flood insurance for their property. A flood policy insurance protects the structure of the home, property within the home and other possessions that are caused by a flood. The cost of a policy depends on the amount of risk for the home. An insurance underwriter will look at a topographical map and zoning information in order to determine the level of the risk, which will in turn affect the cost.
Why Get a Flood Insurance Policy?
Those that live in high-risk areas within a community that participates in the National Flood Insurance Program are required to obtain flood insurance. For others, the standard homeowner’s policy does not cover damage due to a flood. This means that a homeowner is at risk to losing everything if a flood occurs. Many prefer to obtain the additional cover to ensure their property is protected from this natural, sometimes catastrophic disaster. For more information contact an agent today.