TUESDAY, OCTOBER 19, 2010
Did You Know...
...that there is a 30 day waiting period on most new flood policies, and that a homeowners policy does not cover for flood. Anywhere it rains, it can flood! Just a few inches of water from a flood can cause tens of thousands of dollars in damage. Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future.
Only flood insurance protects your home and belongings from damage caused by rising water or mudflow. Here's a little something to keep in mind when deciding whether or not to get flood insurance.
The average flood policy for a $200,000 home with content coverage is only $333.00 a year- that equates to a little less than a $1.00 a day! However, over the past 10 years, the average flood claim has amounted to over $33,000. Those property owners who do not have flood insurance suffer devastating consequences. Since flood premiums are set by the U.S. government, your rate is the same from any insurer. Flood insurance is available for the value of the structure, minus the land value. Content coverage is also available, but is optional and must be requested.
Flood insurance is the best way to protect yourself from devastating financial loss. Again, typically, there's a 30-day waiting period—from date of purchase—before your policy goes into effect. That means NOW is the best time to buy flood insurance. Call us to get you flood policy started. When it comes to your future, it does'nt pay to wait!