Most renters and home insurance policies don’t cover any flood damage. However, you can be eligible to purchase a separate flood insurance policy if you live in a community that participates in the National Flood Insurance Program. Even though disaster assistance may be available after a flood, this is not always the case, and the assistance comes in the form of a low-interest loan. If you don’t have a flood insurance policy, then you could be stuck paying thousands of dollars, even if just an inch of water gets into your home. Everyone lives in a flood zone, but it’s essential to know whether you live in a low-risk or high-risk area.
There are flood hazard maps to determine if you live in a high-risk flood area. If you live in a high-risk flood area, you may be required to have flood insurance for your mortgage loan or even become eligible for FEMA disaster money. If you don’t live in a high-risk area, you can still purchase flood insurance to protect your home investment. There is usually a 30-day waiting period before your policy takes effect. To get flood insurance, work with an agent at The VanStrate Agency to see if you are eligible and find the right policy.
To protect your belongings and your home, you can get two different types of flood coverage: contents coverage and building coverage. Items that can be covered under building coverage include plumbing and electrical systems, blinds, foundation walls, staircases, detached garages, permanently installed bookcases, paneling and cabinets, solar energy equipment, water well tanks, fuel tanks, permanently installed carpeting, and built-in appliances. Items covered under contents coverage include your personal belongings, portable air conditioners, curtains, your dryer and washer, and carpets not included in other coverage.
Contact The VanStrate Agency to get a quote on flood insurance.
