Just Because you don’t live near water, doesn’t mean your not at risk.
As you know, flooding can happen at any time. You can’t control the weather, but you can prepare for it.
Flood insurance is a specialized type of insurance coverage that provides financial protection against damage caused by flooding. While standard homeowners or renters insurance policies typically cover damages from fire, theft, and certain natural disasters, they often exclude coverage for flood-related damages.
FEMA and the National Flood Insurance Program (NFIP) are encouraging residents to purchase flood insurance to protect their homes and families—policies typically take up to 30 days to go into effect.
Here are 3 things to remember about flooding:
- Just one inch of water in an average-sized home can cause more than $25,000 in damage: In 2017, the average flood claim payment was more than $90,000. Flood insurance helps cover the costs of repairing or rebuilding your property, ensuring that you can recover from such a devastating event.
- Flooding can happen anywhere, not just in high-risk areas: More than 25% of flood insurance claims come from outside the high-risk flood area.
- Most homeowners insurance doesn’t cover flood damage: With a flood policy from the NFIP, you’re insured up to $250,000 for your home and $100,000 for belongings.
Merit Insurance Group can provide you with the right coverage at the right price to prepare for today’s risks and to plan ahead for unforeseen losses. Call us at 708-845-5466.
