A flood is defined as “a general and temporary condition of overflow of inland or tidal waters; an unusual and rapid accumulation or runoff of surface waters from any source.”
According to floodsmart.gov, from 2008-2012 the average residential flood claim was more than $38,000, and the average flood insurance policy costs about $650 per year.
Flood Insurance policies are separate from your homeowners’ or renters policy and covering your personal contents is optional. Floods occurring below land grade level (i.e. a basement) will only provide coverage for heaters, furnaces, electrical panels and other critical utilities used to maintain the home.
With the typical policy having a 30-day wait period from your date of purchase we recommend contacting our personal lines staff today to begin discussing your Flood Insurance needs.
For additional tips on ways to prevent flooding and what to do in the event of a flood, visit our Resource Section. For more flood facts Click Here.