Flood Insurance
Flooding causes devastation! Get the right coverage today!
What Is Flood Insurance?
Flood insurance is a type of insurance coverage designed to protect homeowners and renters from financial losses and other risks associated with flood damage. This type of insurance can provide coverage for a range of potential damages caused by flooding, including damage to the structure of the home, personal belongings, and other related expenses.
Unlike standard homeowner’s insurance policies, flood insurance is typically not included in the basic coverage and must be purchased separately. This is because flood damage is often excluded from standard homeowner’s policies due to the high risk and potential costs associated with flooding.
Flood insurance can provide coverage for a range of flood-related events, including river and coastal flooding, storm surge, heavy rain, blocked storm drainage systems, levee dam failure and snowmelt. This type of insurance can provide coverage for the repair or replacement of damaged property, as well as additional living expenses if the home becomes uninhabitable due to flood damage.
We are able to offer flood insurance policies through the National Flood Insurance Program (NFIP), which is a federal program administered by the Federal Emergency Management Agency (FEMA). We are also able to offer flood insurance from private insurance companies as well, so it’s important that we carefully review the terms and coverage options to find what best meets your needs.
In many places, a flood is considered a Vis Major event, and the damage or destruction it causes are uncovered if you do not have flood insurance.
Now offering Private Market Flood Insurance Coverage.
Call us today for more information!
KEY TAKEAWAYS
- Flood insurance is a type of property insurance that covers a dwelling for losses sustained by water damage specifically due to flooding.
- Flood insurance policies are available for all residential and commercial properties.
- The federal National Flood Insurance Program (NFIP) offers flood insurance to homeowners in participating communities, along with those determined to be in the NFIP-designated floodplains; though the policies are offered through private insurers, the government sets the rates.
- The pricing of flood insurance policy is based on the NFIP-designated flood zone in which the property is located, as well as the property age, elevation, and the number of floors.
