Think again. Homeowner’s insurance does not typically cover flood damage—however did you know that flooding is ranked the #1 natural hazard in the U.S., occurring in and causing damages in all 50 states?
Floods can be caused by storms, hurricanes and even melting snow. Don’t get caught in rising water— protect your home with flood insurance. Flood coverage must be purchased as a separate policy as flood damage is not covered under homeowner policies.
At the Anchor Insurance Group, we want you to have the peace of mind that comes from knowing your home is protected.
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 NFIP, your building and its contents can be covered by a standard flood insurance policy. The National Flood Insurance Program (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 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 are not 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 effected 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.
Let our team of insurance specialists at the Anchor Insurance Group do what we do best by doing the research for you! We simply discuss your coverage and financial needs together to determine what policy will work best. Contact Us today!
ANSWERS TO COMMON QUESTIONS ABOUT FLOOD INSURANCE:
Note: Information was provided by the Federal Emergency Management Agency (FEMA) and the Institute for Business & Home Safety (IBHS) brochure, Protect Your Home Against Flood Damage. View the Federal Emergency Management Agency’s (FEMA) website at http://www.fema.gov/business/nfip/.