Protection From Flood Waters

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Most people just assume that they are covered for flooding under their homeowner’s policy. During the rainy stormy season this can be pretty disappointing when people find out that it doesn’t cover flooding of any kind, no matter the source. Only 12 percent of US homeowners have flood insurance.

The first question to ask is “Do I need flood insurance?” Research your area and find out if you live in a designated flood zone. If so, you should add a flood insurance policy to your plan. Even if you don’t, that doesn’t necessarily mean that you are free and clear of all damage. Melting snow, overflowing creeks and streams and run off water from a step hill can also be a cause for flood damage in the home.

FEMA says that all 50 states have experienced flash flooding in the past 5 years many claims coming from low to moderate risk areas. Don’t wait until the last minute to get a policy added to your insurance. Most insurers have a 30-day wait period before it goes into effect. Be sure to get a policy in plenty of time before the wettest season. You don’t have to be a homeowner to get flood coverage. You can rent and still receive coverage under a special policy. These can be provided through the federal government as well as a few private insurers.

To get a policy, most private companies and local insurers can help set you up with a government policy through NFIP, which is National Flood Insurance Program. A flood policy can help cover structural issues on property such as plumbing, AC system, electrical systems, cabinets, panels, and detached garages. You can also opt for personal belonging coverage. This can help protect furniture, electronics, clothing, freezers, small appliances, and some art. A usual payout will be the cash value of the items.

With this knowledge you can make an informed decision on whether you need flood insurance or not. Stay alert and make sure that you won’t be the one disappointed this season.