Flood
Did you know your homeowners insurance does not cover flood? Flooding occurs in moderate-to-low risk areas as well as in high-risk areas. Poor drainage systems, rapid accumulation of rainfall, snowmelt, and broken water mains can all result in flood. Properties on a hillside can be damaged by mudflow. Structures located in high-risk flood areas have a significant chance (26 percent) of suffering flood damage during the term of a 30-year mortgage. In a high-risk area, your home is twice more likely to be damaged by a flood than by fire. We hear the horrible stories everyday about people losing their homes. While we can’t stop Mother Nature, we can certainly prepare for the worst. Why take the chance? Give us a call and let our experience go to work for you.
A flood insurance policy protects your home if groundwater rises and floods your home. Your homeowner’s insurance typically does not cover for a flood. Homes and businesses in known flood areas that have a mortgage backed by the government are required to have flood insurance. Some situations that can give rise to a flood include heavy rain, melting snow, and severe coastal weather. The National Flood Insurance Program (NFIP) advises homeowners to buy Flood Insurance, especially if you’re in an area that has a high flood risk.
