You already know Harvey, Irma and Maria, but do you know Sandy, Bob, Gloria, and Diana? They’re the costliest hurricanes to hit the United States, with some of them costing billions in damages along the Northeastern seaboard. Floods are one of the major side effects of hurricanes that can leave homeowners in financial ruin.
“It’s certainly something that can happen in New England. Obviously, it’s a tropical system, so it’s more common in the Southern states, but it can occur here,” Meteorologist Mike Skurko said.
We at Insurance Center are committed to protecting your home and business from unexpected disasters, and we want you to understand some of the nuances of flood insurance.
Here are 4 important facts about flood insurance.
- Floods happen everywhere
If you think you don’t need flood insurance because you live on a hill, think again. One fifth of flood claims stem from areas that are considered low-risk areas, according to the Federal Emergency Management Agency. This means that under the right storm conditions, a higher altitude might not save your home from catastrophic damage.
- There is a deadline for flood insurance
Don’t wait for meteorologists to tell you about potential flooding because by then it would be too late. Most insurers have waiting policies that can last up to 30-days before a flood package goes into effect.
- Flood insurance doesn’t have to be expensive
Prices for flood insurance vary greatly from one area to the next. With premiums possibly hovering around $40 per month, contact an Insurance Center specialist for the best prices available.
- Homeowners insurance covers most things, just not floods
Most homeowners insurance policies cover structural damage, damage to personal belongings, and liability claims. However, floods are natural disasters that aren’t included in regular insurance packages, so it’s worth learning what the flood risk is for your home. Unfortunately, many of our neighbors in the Southern states will learn this the hard way when they return to their decimated homes.
Insurance Center is always available to discuss how to protect your investments, and is committed to giving you peace of mind when you need it. To speak with an Insurance Center specialist regarding flood insurance packages, give us a call at 603-542-2551.