Why Everyone Should Have Flood Insurance
After the last few years the United States has faced some major storms. While everyone saw the damages from hurricane Katrina, not as many see what happens in other states as these storms move north. To make matters worse, with the increased construction of new houses in the last ten years surface water has less room to run. Just a few inches of water can cause tens or hundreds of thousands of dollars worth of damage.
An important thing to know about your homeowners insurance policy is that it will not cover flooding. Flooding, also known as surface water can come from a storm or local body of water. Over one quarter of all flood claims occur in low risk areas. If your house is in a high risk zone the mortgage company can require you to carry flood insurance and it can be expensive. If your house is located in a low risk zone the cost is very affordable and well worth it. Flood insurance is provided by the Federal Emergency Management Agency and sold through local insurance agents.
If you are considering taking out flood insurance you need to know that there is a 30 day waiting period for new policies. That means that from the day you start the policy there is 30 days before the coverage starts. This is to keep people from taking a policy when they see a storm coming on the weather channel. This is one more reason why it is so important to start your policy now. For more information on flood insurance or to get a quote, call the National Flood agency: (610) 532-2800.
Tags: Damages From Hurricane Katrina, Federal Emergency Management Agency, Flood Insurance, Insurance Agents, Last Ten Years