When April Showers Bring More Than May Flowers

As you watch the evening news at almost any time of the year, there are bound to be stories about rising waters engulfing a road, a home, and maybe even an entire neighborhood. You probably wonder if your current homeowner’s, condominium or renter’s insurance would cover your property in case of a flood.

Unfortunately, the answer is most likely no, unless you have flood insurance. While some homeowners may have flood insurance endorsed on their policies, most policies exclude this peril.

Flood coverage is typically sold as a stand-alone policy. This coverage is uniquely designed to protect property from floods. In simple terms, a flood is an excess of water on land that is normally dry.

Flood policies will provide some coverage against:

• Damages caused by excessive rainfall or snow melt
• Flooding damages caused by a sewer backup if the backup is a direct result of flooding
• Water damages caused by hurricanes and tidal waves

The exact events that some flood policies cover depend on the terms, conditions and exclusions of the written policy. You cannot purchase flood insurance unless the community you live in participates in the National Flood Insurance Program. This program is managed by the Federal Emergency Management Agency (FEMA).

You might think you don’t need to worry about flooding unless you live in a high-risk area along a coast.

The fact is, 25% of all flood claims come from outside high-risk flooding areas, according to FEMA. 

Wherever it can rain, it can flood. It might surprise you to know that floods are the most common and costly natural disaster in the U.S., often running up thousands of dollars in damages from as little as an inch of water.

It’s natural to hope for the best, but it’s smart to prepare for the worst. Since your flood insurance policy will not go into effect until 30 days after you buy it, you need to be prepared in advance.

If you think your home could be damaged by flood waters, please contact us immediately to find out how to protect your home and its contents before you suddenly experience a flood.

For more information, visit our Personal Risk page or contact us below.