Flood Insurance

WHAT IS A FLOOD?

Here's how "flood" is defined by the National Flood Insurance Program:

"A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:

• Overflow of inland or tidal waters; or
• Unusual and rapid accumulation or runoff of surface waters from any source; or
• Mudflow; or
• Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."

So, in plain English, a flood is an excess of water (or mud) on land that's normally dry.

Floods often happen when bodies of water overflow or tides rise due to heavy rainfall or thawing snow. But you don't have to live near water to be at risk of flooding. A flash flood, which can strike anywhere without warning, occurs when a large volume of rain falls within a short time.

More and more buildings, roads and parking lots are being built where forests and meadows used to be, which decreases the land's natural ability to absorb water. Coupled with changing weather patterns, this construction has made recent floods more severe and increased everyone's chance of being flooded.

Dangerous or damaging floods don't always mean dramatic, rushing waters through the streets of your hometown. Just a single inch of water can cause costly damage to your home! Keep this in mind when you're considering flood insurance

WHAT DOES FLOOD INSURANCE COVER?

Flood insurance covers losses to your property caused by flooding. From structural and mechanical damage to flood debris cleanup and floor surfaces (like tile and carpeting), your investment is protected by a flood insurance policy, something that your homeowners policy does not offer.

In addition, you can purchase separate coverage that insures most of your personal property and belongings up to a specified limit, including:

• Clothing
• Furniture, housewares, bedding
• Decorative items, lamps and lighting fixtures
• Books, home electronics, computers
• Area rugs and draperies
• Clothes washers and dryers
• Air conditioners
• Food freezers and the food in them
• Portable microwave ovens

Having flood insurance gives you many benefits. Not only is coverage there when you need it, but it also:

• Compensates for all covered losses
• Compensates for flood damages even if federal disaster aid is unavailable
• Pays for your covered losses, unlike interest-bearing loans through federal disaster assistance
• Comes in low-cost policies for those who qualify
• Guarantees compensation for flood damages because the Federal government backs NFIP flood insurance
• Helps you move on – if your property is damaged by flood, your agent is there to help you handle your claim (note: most claims are paid within 30 to 60 days)