Flood Insurance

flood_bldg_420x315Your homeowners insurance covers many hazards. Flooding typically isn’t one of them. Also, many people believe federal disaster assistance will cover them. Not always! The President must first declare a flood a federal disaster; any assistance you receive is usually a loan that to be repaid with interest.

That’s why you need flood insurance. The National Flood Insurance Program was created by Congress in response to the rising cost of disaster relief for flood victims, and for more than 45 years it has provided protection for millions of families. About 80 private insurance companies nationally offer flood insurance backed by the federal government. Policies are available to homeowners, condo owners, apartment owners, renters and business owners.

Typically, there’s a 30-day waiting period from date of purchase before your policy goes into effect. If your lender requires flood insurance when making, increasing, extending or renewing a loan on a building in a high-risk area, there is no waiting period. There is a one-day waiting period for 13 months after a flood map is issued if it is not lender-required. Contact your insurance agent or insurance company for more information.

For more information regarding the National Flood Insurance Program go to http://www.floodsmart.gov.

Consider these facts:

  • Floods are the #1 natural hazard in the U.S., occurring in all 50 states.
  • Floods happen in high-, medium-, and low-risk flood zones.
  • Homeowner’s insurance doesn’t cover flood damage.

It’s all about peace of mind. Call us at 563-382-3627 for a quote today!