The truth about flood insurance and your homeowners insurance policy.

flood insurance
There are limitless accident types that humans have grown accustomed to insuring against. Including health, auto, property, and even fire insurance, along  with less familiar insurances such as dental and flood. Forming awareness of reasons why you should reasses the insurances you currently have is a clever tactic. Perhaps consider relocating them to cover the risks that you are most afraid of experiencing.
Here are some facts that may get your mind wondering and your money in a more convenient place. Did you know that injuries and losses due to floods are thirty times more likely to occur than fire losses? This is especially common if you reside in flood prone zone. Although a fire loss may generally create a legion of devastation, the chance of experiencing catastrophic damage is still 25% greater from flood than from fire.
Flood loss & Water Damage
Flood loss is generally not an automatic standard for most basic home insurance policies and even commercial property policies. Flood loss is likely only being covered if it is specifically mentioned in the policy. An extremely severe flood classifies as a disaster site by the federal government causing some protection. It can be made available in the form of loans, which travel through the Federal Emergency Management Assistance program. This program requires you to eventually return the loan given to you, along side any other home loans you already have. Once your home is classified you become required to carry flood insurance throughout your future. Another dilemma in the Federal Emergency Management Assistance program is that it only applies if your area and flood have been declared as a federal disaster site. This can be fairly rare when compared to the annual amount of floods experienced.
The National Flood Insurance Program should back flood insurance, however it will be offered by various insurance companies. This type of support and regulated coverage from the federal government is the only type of flood insurance guaranteed to fully protect your home and contents from rising water floods.
 flood insuranceShop Around & Don’t Settle
When dedicating to a policy of this type consider shopping around for the best rate, also find out what is covered and excluded. It may turn out that a company can’t compromise their exclusions which happen to be your requirements, and other companies may have more or less than you considered settling for. Also, never accept the first offer or quote received because all insurance companies vary in coverage and charge. Always remember to look out for yourself and search for the best deal available when it comes to your insurance
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Nigro Insurance AgencyThe truth about flood insurance and your homeowners insurance policy.