Flood Insurance

Floods are potentially devastating natural disasters. Heavy rains, rapid snowmelt, blocked drainage systems and overflowing bodies of water can quickly overwhelm your property and allow floodwater to enter your property. Even an inch of water can result in significant property damage and major financial losses. With that in mind, you should strongly consider taking time to understand, acquire and maintain suitable flood insurance.

What Is Flood Insurance and Why Is It Important?

It’s essential to understand that flood insurance is typically not included in standard homeowners or renters insurance policies. Rather, this coverage is sold separately through the Federal Emergency Management Agency’s National Flood Insurance Program (NFIP). Policies may also be available through private insurers. Regardless of how you acquire coverage, doing so is imperative. Without sufficient flood insurance, you could be left without the means to pay for expensive losses, such as repairing or rebuilding your home.

What Types of Damage Are Typically Covered by Flood Insurance?

Although the details of your flood insurance policy may be customizable, most include coverage for the following:

• Structures, including:
  • Foundations
  • Walls
  • Roofs
  • Plumbing and electrical systems
  • Central air and heating systems
  • Attached fixtures (e.g., bookcases, cabinets, paneling)
  • Built-in appliances
  • Garages
• Contents, including:
  • Furniture
  • Electronics
  • Clothing
  • Portable appliances
  • Some valuables (e.g., jewelry, art)

How Are Flood Insurance Premiums Determined?

As with most forms of insurance, the cost of adequate flood coverage may vary significantly among policyholders. Insurers must thoroughly assess your risks and unique circumstances before quoting you a price. Generally, this process may include consideration of the following:

• Location
• Flood risk (e.g., elevation, proximity to bodies of water, flood history)
• Property details (e.g., age, building materials)
• Policy details (e.g., coverages, endorsements, deductibles, limits)

Get the Right Coverage

Floods are extremely destructive and among the most common natural disasters experienced across the United States. A single storm or other circumstances outside of your control could cause water to enter your property and potentially wreak financial havoc; without suitable coverage, your out-of-pocket costs could be devastating. At FLM Insurance, our agents make it their mission to ensure that doesn’t happen to you and your family.

Our dedicated staff has over 50 years of experience serving our clients’ coverage needs and will make sure you are financially protected with optimal flood insurance. Contact us today to get started.