Do you hear that?
It’s the sound of people everywhere rejoicing that summer is almost here. While warmer weather may bring joy to millions in the area, Mother Nature may have other plans - RAIN!
Water can damage your home in different ways and a standard homeowners insurance policy DOES NOT cover damages from flooding. A separate flood policy is needed to cover losses to your property caused by flooding, and provides coverage for things such as:
- Structural damage
- Furnace, water heater, and air conditioner
- Flood debris cleanup
- Floor surfaces (carpeting and tile)
You can also purchase a flood insurance policy to cover the contents of your home, such as furniture, collectibles, clothing, jewelry and artwork. For a more detailed look at flood insurance, Click Here: A Guide to Flood Insurance.
Flood insurance means you’ll be reimbursed for all of your covered losses. Plus, unlike federal aid, it never has to be repaid. As long as your community participates in the National Flood Insurance Program (NFIP), you’re eligible to purchase flood insurance.
In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you want to purchase coverage, it’s already too late. You will not be insured if you buy a policy a few days before a flood. However, if your lender requires flood insurance in connection with the making, increasing, extending or renewing of your loan, there is no waiting period.
If you have questions or concerns on this issue, do not hesitate to call Zeiler Insurance and speak to one of our customer service representatives. Customer or not, we can review your insurance and see if you are being protected appropriately for the right price.