Almost a year ago, this article made it clear to me why EVERYONE should have flood insurance. Even if you don’t live near the water… Even if you’ve never experienced a flood in your life. Nothing is impossible, and if you’re really not a high flood risk, the premium is CHEAP. It’s *totally* worth the expense, for even the nominal coverage it provides.
The National Flood Insurance Program is a government-run product. It is provided by FEMA, and administered through various insurance companies. Our office uses Travelers Flood. But the product itself is the same.
From FEMA’s website: Anywhere it rains, it can flood. A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes , overtopped levees, outdated or clogged drainage systems and rapid accumulation of rainfall.
What are the odds you’ll have a hurricane in middle america? Slim to none. But what are the odds that a water main will break, and flood streets for miles? Not so slim… A heavy rainstorm, and flash floods?! Happen all the time. How much property do you have in just the first floor of your home that would be completely damaged? How would you prevent mold? What if the building’s structure was compromised? Do you have a bank account somewhere with enough funding in it to re-build half of your home?
Now the flood policy starts making sense! I’m not saying buy the policy today. I’m saying it deserves some serious thought. So, think about it!
If you’re interested in a flood quote, call our office at 718-386-5050.
- Fighting the floods and the drought with non-standard insurance (savings247.co.uk)
- Flooding and its recurring problem (minbcnews.com)