Flood Insurance News

Few people understand how flood insurance works.  Nonetheless, when you need it, flood insurance can go a long way to help you recover from a loss.  Insurance is all about understanding risks, and not every business or homeowner is equally at risk for flood losses.  Having flood insurance means you will be reimbursed for all your covered losses, and unlike Federal aid, it never needs to be repaid.

Flood Insurance Concerns

• Your homeowner’s insurance does not cover floods. Flood insurance requires a separate policy that is especially for floods. If you do not have one, you are not covered.
• You may need flood insurance even if you live outside the flood plain. Flooding can occur anywhere. In fact, 30% of flood damage occurs outside the “flood plain.”
• If you decide you want flood insurance, you will need to secure coverage as soon as possible. There is a 30-day waiting period before policies can be bound.
• There are flood polices for condominiums and apartments as well.

Since standard home insurance doesn’t cover flooding, it’s important to have protection from floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

Slevin Insurance Group offers several of the top insurance companies to choose from when selecting your insurance plan. We research the rates and coverage for you to find you the options that fits your needs. You no longer need to call around town or search all over the Internet to find the best rates – we do the shopping and comparing for you to save you time!

This entry was posted on Wednesday, March 13th, 2019 at 12:33 pm and is filed under Flood Insurance, Home Insurance, Personal Insurance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.