According to the NFIP, floods are the #1 most common natural disaster in the United States.
Such an alarming statistic calls for a course of action. As a homeowner, it is critical to protect your property and valuables from a possible flooding situation. If your home is not currently covered in terms of flooding, you have come to the right place. At The Horton Group, we have the answers and coverage that you are looking for!
Am I At Risk For Flooding?
This is a common question that homeowners ask themselves. For those who live inland, it seems pretty impossible to face a flood – right? Wrong. Each and every state is vulnerable when it comes to flooding. In fact, a large percentage of claims are at least several miles away from the nearest body of water. Floods can be caused by rainstorms, hurricanes, melting snow, or even water back-up caused by inadequate or overflowed draining systems. It is safe to say that all homeowners across the country live in a flood zone – low, moderate or high risk.
Fast Facts About Flood Insurance
First and foremost, it is important to understand that flood damage is not covered under any standard home insurance policy. It is a separate policy from the National Flood Insurance Program (NFIP). However, policies are sold through agencies, such as ourselves. The rates are set by the NFIP and policy forms are standard. No matter which agency you choose to work with, the coverage will be the same. Here are few additional facts you may want to look over:
- Whether you are located in a high or low risk area, you are eligible to purchase flood insurance.
- Flood insurance is much more affordable than you may think. It often costs less than $400 a year for $100,000 of coverage! If you live in a low risk zone, you may even snag a policy under $200 a year.
- Flood insurance policies that are newly issued carry a 30-day waiting period. In other words, do not wait for the storm to hit.
- Avoid relying on federal disaster assistance. This is only available if the U.S. President declares a disaster. In reality, a disaster is only declared 10% of the time.
The bottom line: Flood insurance is an important policy to have.
The Difference Between Flood Insurance and Sewer Back-up Coverage
Many homeowners are confused by these coverage types. No, flood insurance is not the same as sewer back-up coverage. Sewer back-up coverage, also known as “sump pump coverage,” can be added to a home insurance policy by endorsement only. It is a separate coverage from flood insurance and will take care of losses from different causes. It will cover water damage resulting ONLY from sewer back-ups, drains or sump pump pits. If you believe that you are in need of this extra coverage, ask one of our agents for details.
Stay Afloat With the Help of The Horton Group
Let us be your life jacket. The Horton Group can provide you with the flood insurance solutions that your property deserves. To learn more about our options, please contact us by calling (800) 981-4700 or fill out our quick and easy free quote form. Do not wait until it’s too late!
