If you recently bought a home and financed it, you probably know if you are in a flood area and if you are, you must carry flood insurance.
Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Flood risk isn’t just based on history, it’s also based on a number of factors: rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development, so it’s important to consider flood insurance on any home. There is always the potential for flooding.
Flood policies only cover some items in the basement, thus it is important to talk to your insurance agent about what it does and does not cover. Normally the heating system is covered, but many of the contents in the basement are not.
The time to prepare for a flood is before it happens, both from the planning of what will be done and moved and at what flood/creek level you need to start. Waiting until the water is at the front doorstep is not a good idea! It is also important to insure the property before the possibility of flooding, as there is a 30-day waiting period in the policies. That means that if you take the policy out today, it will not go into effect for 30 days. So plan and insure ahead.
There are many causes of flooding. To learn more about residential flood insurance and coverage, check this link or give us a call at the Coup Agency. We have agents who know what’s covered and how to best insure you. Check out more at the Coup Agency’s insurance website.
The hope is that none of us will ever need flood or fire insurance, but it certainly is worth the peace of mind.