Unfortunately, homeowners insurance does not cover floods. A flood insurance policy through McDonald Insurance can help protect you. Flood insurance provides protection for destruction and financial devastation caused by floods. Although it may not seem like much even a few inches of water can cause serious damage; resulting in thousands of dollars in repair and restoration costs.
Don’t be deceived into thinking that flood insurance is not as important as homeowners insurance. Both are extremely important. Flood coverage offers protection against losses that result from heavy and lengthy rain falls, storm surges, blocked storm drainage systems, etc.
Different types of policies are available based on your property’s location and flood history:
- 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 Policies – 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 McDonald Insurance today by calling and we will get you on the path to flood protection with an affordable and comprehensive insurance policy.