Recent images of flooding from hurricane Sandy have shown the terrible devastation that has displaced thousands. Adding to the misery of many of those affected is the fact that they are now finding that their homeowners’ and business policies cover wind damage from the hurricanes but do not cover the damage caused by rising waters and flooding. Is your home or business covered?
“Even if your home or office is not in a flood prone zone it often makes good sense to have flood insurance.”
In the last two decades, about 40 percent of federal flood insurance payments have gone to a tiny fraction (2 percent) of chronically flood-prone properties in places such as the Gulf Coast states and North Carolina’s Outer Banks, according to a Los Angeles Times article.
Even if your home or office is not in a flood prone zone it may make good sense to add the coverage. Heavy rainstorms are not unknown in Central Ohio. Don’t be caught unprepared.
YOUR HOMEOWNER AND PROPERTY POLICIES DO NOT PROVIDE FLOOD COVERAGE. The homeowners’ policy excludes certain perils, such as earthquake, landslide, flood, surface water, waves, tidal water or tidal wave, sewer backup and seepage. Some exclusions – like flood, earthquake, and sewer backup – can be added to the policy.
Contact us today for a free evaluation of your home or business policies. We will explain the coverage you have and help you make an informed decision about the benefits of adding flood coverage or other endorsements to your policy.