Despite popular belief, flood insurance is not included under your homeowner’s insurance policy. Flood insurance protects not only your home but your possessions within the home as well. Choosing which type of policy is best for you may be overwhelming. An experienced agent at Remland Insurance can help you decide which flood insurance policy is best for you depending on your property’s location and flood risk.
Standard Flood Insurance Policies:
If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by a standard flood insurance policy. The NFIP was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
Preferred Risk Flood Insurance:
If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you aren’t required to purchase flood insurance in low-to-moderate risk areas, a preferred risk policy will protect your home and its contents if you are affected by a small flood or a larger flood that has extended into your low-risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.
Contact us today to get on the path to flood protection with an affordable and comprehensive insurance policy.