Do I Need Flood Insurance? (Pt. 1)

Did you know that just one inch of water can cause up to $25,000 in damage to your home? If you have flood damage to your home, you will not find coverage on your homeowners policy. Flood policies are designed specifically for flood losses to the structure and/or contents. Unlike traditional homeowners policies, flood policies allow you to choose your policy limit up to $250,000, regardless of the home’s replacement cost. These policies are rated based on the likelihood of a flood in your area and the flood zone that applies to your home.

Even if you are in a low risk zone, you are still at risk. Over 20% of floods occur outside of high-risk areas. Keep in mind that the standard wait time for a flood policy is 30 days, so do not wait for the rainy season to talk to your agent about a quote for a policy that could save you thousands of dollars in the event of a flood.

Want to know more about flood? Check out www.floodsmart.gov or talk with your agent about any questions you may have.

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