Flood Insurance: Protecting Your Home from Rising Waters

Floods can cause devastating damage to homes and businesses. While many homeowners and renters insurance policies do not cover flood damage, flood insurance can provide essential protection.

What is Flood Insurance?

Flood insurance is a type of property insurance that covers losses caused by flooding. It can help protect your home, belongings, and other structures on your property.

Why Do You Need Flood Insurance?

• Frequent Floods: Even areas with a low risk of flooding can experience occasional flood events.
• Rising Sea Levels: Climate change is increasing the frequency and severity of floods in many regions.
• Financial Protection: Flood insurance can help you recover from flood damage and rebuild your life.

How Does Flood Insurance Work?

Flood insurance is typically purchased through the National Flood Insurance Program (NFIP) in the United States. It covers direct physical loss to buildings and contents caused by flooding.

Key Considerations:

• Flood Zones: Your location and flood risk will determine your eligibility for flood insurance and the premium you pay.
• Coverage Limits: Choose coverage limits that adequately protect your property.
• Waiting Period: There is usually a 30-day waiting period before coverage begins.
• Flood Elevation Certificate: This document provides information about your property's flood risk and may be required to obtain flood insurance.

Tips for Choosing Flood Insurance:

• Shop Around: Compare quotes from different insurance providers to find the best rates.
• Understand Your Coverage: Review your policy carefully to understand what is and isn't covered.
• Consider Additional Coverage: You may want to consider additional coverage for valuable items or business interruption.
• Stay Informed: Keep up-to-date on flood risk assessments and warnings in your area.