Even though you may have traditional homeowners insurance, you may not be fully protected in the case of rising waters. You may not feel you are directly at risk because you don’t live directly on the shore, or near a river or body of water, but floods and flash floods can happen anywhere.

Floods occur in every state, even in the mountains. A surprisingly large percentage of floods, which result in insurance claims come from areas not considered high-risk flood areas. Because our area is so close to the coast, it’s important to protect yourself and your investments.
National Flood Insurance Program (NFIP)

The government produces a Flood Hazard Boundary Map that separates the country into various zones according to their risk of flooding. The Federal Government runs the National Flood Insurance Program (NFIP), which is why most home and property insurance typically doesn't cover flooding. Their Flood Insurance Rate Map sets the premiums and coverages for each of these flood zones.

Things to keep in mind regarding special flood insurance coverages:
  • Flood insurance coverage generally becomes effective 30 days from the application and the premium payment date.
  • The exception to this rule is when Flood Insurance is required for a mortgage loan. In this instance, the policy goes into effect on the closing date.

Additional Coverages

Additional water backup insurance is also something you may want to give some thought to. Neither your base homeowners insurance policy nor the National Flood Insurance Program will generally cover you if water overflows from a sump pump, or water backs up through sewers or drains. To be certain that you get the right insurance that covers these types of hazards, discuss all your individual concerns about water damage with your Brad Sizemore agent.

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