Flood Insurance

Floods can occur in all 50 states. Even if you don’t live in a designated high-risk flood zone, flooding could damage or destroy your home. What’s more, a standard homeowners insurance policy does not typically cover these losses.  

Contact Insurance Agencies Inc. to learn about your flood risk and how flood insurance can protect your home. 

What Is Flood Insurance? 
Flood insurance is property insurance generally purchased separately from your homeowners insurance policy. If you live in a high-risk area, your mortgage lender may require that you purchase flood insurance before approving your loan. Even when it’s not required, however, you may decide the benefits of flood insurance outweigh the cost of premiums. 

We’re here to help you find the right coverage for your insurance needs. Contact Insurance Agencies Inc. for a flood insurance quote today. 

What Does Flood Insurance Cover? 
Generally, your flood insurance policy will pay to repair or replace the structure of your building or your possessions if they are damaged or destroyed during a flood. Although individual policies may vary, here are some commonly covered items: 

• Your home’s foundation and structure
• Plumbing and electrical systems
• Furnace and air-conditioning unit
• Personal property (e.g., furniture, clothes and electronics)
• Garage and other detached structures (e.g., gazebo, fences)
• Built-in appliances (e.g., oven, refrigerator) 

For more information on the flood insurance coverage we offer, call Insurance Agencies Inc. 

How Does Flood Insurance Work? 
If your community participates in the National Flood Insurance Program (NFIP), you will generally be able to purchase flood insurance through one of your local insurance agencies. Although there are exceptions, your flood policy will typically have a 30-day waiting period before it goes into effect. If you buy your flood insurance at the same time as you take out a mortgage, it may begin immediately.  

You may also be able to purchase a private flood insurance policy, which may come with various coverage options and limits. However, this may not apply to every homeowner.  

You don’t have to live in a high-risk zone to buy a flood insurance policy. Homeowners with property in low- to moderate-risk zones can also purchase flood insurance as long as their community is part of the NFIP. Speak to your insurer for more information. 

What Is Not Covered by Flood Insurance

Flood insurance does not cover damage that results from gradual issues like moisture, mold, or mildew that could have been prevented with proper maintenance. It also excludes items outside the home such as decks, fences, and landscaping. Temporary living expenses are not included, so you would need separate coverage for those costs.

How Does Flood Insurance Work

Flood insurance protects your home and belongings when rising water from outside causes damage. After a flood, you file a claim, and an adjuster evaluates the loss to determine what is covered under your policy. Once approved, the insurer pays for repairs or replacements up to your policy limits.

How Much Flood Insurance Do I Need

The amount of flood insurance you need depends on the value of your home, your belongings, and your level of flood risk. Many homeowners choose enough coverage to protect the full value of their property and avoid major outofpocket expenses. For a clear recommendation based on your situation, it’s best to contact an insurance agent for a personalized quote.

Protecting Your Home 
Since 1879, we’ve been helping customers in New Jersey, Pennsylvania and beyond. Contact Insurance Agencies Inc. today to get the home protection you deserve and to speak to an agent. 

 

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