Are you aware that most home and business insurance policies do not automatically cover you for flood losses? Floods can represent a significant threat to your home or commercial building, as well as your valuables. Call us today about securing Flood Insurance protection. With flood insurance coverage, you can rest assured that your valued assets will be replaced should you experience a devastating flood.
What Does Flood Insurance Cover?
A standard insurance policy does not cover damages from flooding. A separate Flood policy is needed to cover losses to your property caused by flooding, which provides coverage for things such as:
- Structural damage
- Furnace, water heater and air conditioner
- Flood debris clean up
- Floor surfaces (carpeting and tile)
You can also purchase a Flood Insurance policy to cover the contents of your home, such as furniture, collectibles, clothing, jewelry and artwork.
Flood Insurance means you’ll be reimbursed for all of your covered losses. Plus, unlike federal aid, it never has to be repaid. As long as your community participates in the National Flood Insurance Program (NFIP), you’re eligible to purchase Flood Insurance.
In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you want to purchase coverage, it’s already too late. You will not be insured if you buy a policy a few days before a flood. However, if your lender requires flood insurance in connection with the making, increasing, extending or renewing of your loan, there is no waiting period. Call us today to check on your coverage, and discuss any concerns.