Why Flood Insurance is Important

If it rains, it could flood. That’s the simplest way to describe flood risk. Yet in the United States, only a small fraction of residences and businesses at risk have flood insurance. Floods are NOT covered by homeowner or hurricane insurance. A separate flood policy is necessary to protect your assets in the case of a flood. Flooding can begin in a variety of ways, but the risk is even worse in areas near to sea level elevation.

Condo associations can purchase a Residential Condominium Building Association Policy (RCBAP) to cover the entire residential condominium building. However, it would not cover personal belongings. Also, a major flood may cause the association to levy assessments to unit owners. Both these issues can be addressed by getting individual flood policies in excess of the association policy.

Floods can be deadly in the worst cases, and costly in the best scenarios. It only takes a few inches to cause major damage. The National Flood Insurance Program creates maps to identify flood risk in any given area. But numbers and statistics alone cannot describe the consequences of a flood. Don’t take chances, and make sure you are protected.

In some high-risk areas, flood insurance is required. But there are many different amounts and type of coverage. Working with the Flood Insurance Agency guarantees you will get a policy specific to your needs.

The Flood Insurance Agency is a leader in providing flood insurance. Get a quote today to get your assets protected.