You may not know it, but damage to your home and belongings caused by a flood is typically not covered by Homeowners Insurance. If a flood occurs where you live and you don’t have a separate Flood Insurance policy, you likely won’t be protected. If you live in an area prone to flooding, chances are your mortgage provider will require you purchase Flood Insurance. In most cases, there is a 30-day waiting period before a flood policy goes into effect. If you purchase Flood Insurance in connection with initiating, increasing or extending a mortgage, there is no waiting period.
CHOOSING A FLOOD
FLOOD INSURANCE POLICY
The Federal Emergency Management Agency says more than 20% of flood claims come from outside high-risk flood zones. You don’t have to live near a lake or a body of water for flooding to occur. Flooding can come from water flowing downhill that accumulates on your property causing damage, or a thunderstorm, or even quickly rising water coming up from the ground. Simply put, Flood Insurance covers your home and possessions from damage caused by flooding. More specifically, a Flood Insurance policy will cover things such as furniture, clothing and other belongings; it also covers damage to HVAC systems, flooring and certain cleanup and remediation expenses.
Most Flood Insurance is provided by the National Flood Insurance Program, a government entity providing affordable insurance to homeowners. Flood policies are purchased through an insurance agent, not directly from the government. Even if you aren’t required to have a Flood policy, the possibility of losing your home and possessions to flooding make it something to consider.
WHAT WE DO
The Insurance Pros at Cell Brokerage specialize in providing affordable and customized insurance options and superior service to our clients. We partner with a variety of insurance providers, so you are presented with options that fit your needs (and budget).
Our Insurance Pros work with you to:
- Understand the types of coverage you need
- Match you with a reputable insurance provider
- Identify how much and what type of coverage you want/need
- Bundle your plan with other types of coverage to maximize your savings
At Cell Brokerage, our clients are people, not policies.