DO I NEED FLOOD INSURANCE?





Good Day Friends!  Many of you have probably heard about the flash floods that occurred in Missouri yesterday, near St. Louis.  The flood waters came up fast and furious and receded quickly too, leaving massive devastation in it's wake.  Our prayers go out for the family that lost 2 small children in the flood waters.  Heartwrenching.  I can't even imagine... .  However, our discussion today is focusing on the need for flood insurance.  Why do people need it?  Isn't it covered under your home insurance?  What is a flood? How do I know if I need it?  How do I buy it? These questions will be answered today.

Question 1. - Why do people need it?  Answer: Because flooding is one of the most common disasters in the U.S.

Question 2. - Isn't flood covered under your home insurance?   Answer:  NO!  Flood Damage is NOT covered on your homeowners policy.  Some people may be confused by this, since they may have filed a claim for a "flood" from their bathtub, washer, or burst pipes causing water overflow in their homes.  The resulting damage from type of "flooding" IS covered under your home policy, although the repair to the washer, pipes, etc., is not (that would be home maintenance on your part.)  Someone else may say, but my sump pump overflowed in my basement, and that "flood" was covered.  Yes, if you have Water Backup coverage on your policy (this is not automatic, you must add this coverage) then you will have a limited amount of water backup coverage for a "flood" from a sump pump or sewer backup in your home. 

Question 3. - What is a Flood?  Answer:  Outside water coming into your home.  Flood insurance from the National Flood Insurance Program (NFIP) defines flooding as a temporary, partial or complete inundation of land that is normally dry. The inundation must cover two or more acres or two or more properties.  An easy way to remember what flood is and is not:  Outside Water is NOT covered without Flood Insurance.

Question 4. - How do I know if I need it?  Answer:  Call your insurance agent.  The agent can tell you if you are in a participating community for flood insurance and if you are in a high risk area. 

Question 5. - How do I buy it?  Answer:  Through your insurance agent.  Although flood insurance is a federal program, it is administered through your own home town agent! 







In summary, the best way to know about flood insurance is to contact your hometown agent.  So give us a call, we'd love to hear from you!

Until next time I'm still yet....

Nancy
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