Flood Insurance Fun Facts Part 1

Flood Insurance Fun Facts: Part 1

There can be a lot of questions that arise when looking into the flood insurance world. Sometimes it can get a little overwhelming with  trying to decipher what is true and myth. Below you will find some facts about flood insurance and the National Flood Insurance Program that can take some of the uncertainty and frustration out of your journey toward proper coverage.

Flood Insurance Fun Facts: #1

Many people do not realize that when you purchase flood insurance there can be a thirty day waiting period before the policy goes into effect. Although you make a payment and sign the application of your new flood insurance it does not mean it will protect you right away. To prevent people from buying policies when they fear a flood is imminent, the thirty day mandatory waiting period was put into place. Only under special circumstances will a policy go into immediate effect. Plan ahead and be smart so your property is left uninsured because you waited too long.

Flood Insurance Fun Facts: #2

Purchasing a flood insurance policy does not have to break the bank. There are dozens of private carriers who offer policies backed by the federal program. These policies will cover business owners, apartment owners, renters, condo owners and especially homeowner’s. By calling your agent you can see how affordable a policy can be.

Flood Insurance Fun Facts:#3

If you are in the market for flood insurance then you are probably aware that your current homeowner’s policy will not cover a flood loss, but it is a very important point to be aware of. Do be left wishing you had asked the right questions. Like earthquakes, floods are not a covered peril on a homeowner’s policy which is why it is important to know what exactly your homeowner’s policy covers and knowing  the other types of insurance available to gain comprehensive coverage for your property.

Flood Insurance Fun Facts: #4

Even if you don’t live near water it doesn’t mean you won’t ever be flooded. Although the news follow major storms and their effect on waterways a flood insurance policy can cover local flooding by overloaded drainage systems, melting snow or broken water mains. You  never know what kind of hazard may come that makes you wish for that affordable flood insurance policy.

Flood Insurance Fun Facts: #5

Federal disaster assistance is not the same as a flood insurance policy. In order for an area to receive disaster assistance the President must declare a disaster. Without his word you may find yourself without any help when it is needed most. By purchasing a flood policy you will be covered despite the governments declaration.

Flood insurance may not be at the forefront of your everyday life, but if one day it does become your life, be prepared.Just a few  minutes of your time today can mean a lot less stress in the futrue. Call today to receive a free flood quote and see how affordable it  can be.

All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.

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