A single inch of water generated by flooding can cause costly damage to your home. Whether or not you live in a flood zone, consider purchasing a flood insurance policy. Remember that not all floods come from hurricanes or overflowing bodies of water. Flood damage can also be caused by overflowing pipes in your home or malfunctioning appliances, such as hot water heaters and washing machines.
It is important to note that your homeowners insurance will not cover flood damage. In fact, those who live in a flood plain and are considered at-risk for water damage may be required by law to purchase flood insurance. In the event of catastrophic flooding due to a natural disaster, federal disaster assistance is only available if the president formally declares a disaster. Even if you do receive disaster assistance, this is often a loan that must be repaid with interest.
What Protection Does Flood Insurance Offer?
While your standard homeowners policy does not cover damage from flooding, a flood policy provides coverage for the following situations:
- Structural water damage
- Damage caused by a furnace, water heater and central air conditioning
- Debris cleanup
- Repair of electrical and plumbing systems
What is the Cost of Coverage?
Generally speaking, you may insure the structure of your home for up to $250,000 and the contents within your home up to $100,000. Yearly premiums average around $400 in low-to-moderate risk areas. Considering how costly flood damage could be, we strongly recommend all homeowners consider a flood insurance plan.
For more information on flood insurance—including details about premiums, levels of coverage and flood risk in your area—contact Bebis Insurance Services, Inc. at 508-947-5800 or fill out the form on this page.