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Weather forecasters are predicting a higher than normal probability of spring flooding this year.  Here are some things you should know about flood insurance: 

  • Homeowners insurance doesn’t cover flood.  Flood is a major exclusion which is clearly spelled out in virtually every homeowner’s policy.
  • Nearly everyone can buy flood insurance.  You need not live in a high risk area to be eligible to purchase coverage.
  • 30 day waiting period.  From the time you buy coverage, no claims are covered for 30 days.  Waiting until the last minute to get insurance is a bad idea.
  • Federal disaster assistance is not the answer.  While flood victims often get government help after a disaster, the process is cumbersome and aid is usually only partial.
  • Flood insurance isn’t always expensive.  Most people in our region live in areas not considered “high risk.”  Yearly premiums typically fall in the range of $250-$400 for such properties.
  • Flood insurance isn’t just for homeowners.  Tenants and businesses face the same risk and are also eligible for flood insurance.




Posted 7:38 AM

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