Everyone lives in a flood zone. Flooding can happen anywhere at any time. Poor drainage systems, summer storms, melting snow, neighborhood construction, and broken water mains can all result in flooding.
Moderate to low risk flood areas, the risk of flooding is reduced, but not completely removed. Good news, property owners are eligible for lower-cost flood insurance.
High risk flood areas face the highest risk of flooding. If you own a property in a high risk zone and have a federally backed mortgage, you are required to purchase flood insurance as a condition of that loan.
Most homeowners insurance policies don't cover flooding. Only flood insurance covers the cost of rebuilding after a flood.
If you rent. It’s likely your landlord has flood insurance that covers the building, but not its contents. Affordable,contents only flood insurance will help you protect the items inside of your rental unit in the event of a flood.
Private flood insurance is a viable alternative to the government backed National Flood Insurance Program. Private flood insurers can offer higher coverage limits. Another advantage it covers more stuff. Private flood insurance can also pay for living expenses. Private flood insurance may be less expensive for many homeowners.
To learn more about your flood risk contact one of our insurance advisors.