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THIS MONTH'S HOT TOPIC: FLOOD!!!
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FLOOD INSURANCE MYTHS & FACTS
MYTH: I don't live in a flood zone, so I don't need insurance.
FACT: Everyone lives in a flood zone - some just live in higher risk areas than others. You don't have to live near water to have a flood.
MYTH: Flood insurance is only available for homeowners.
FACT: Coverage is also available to renters and business owners; for condominiums, residential and nonresidential buildings, and commercial structures. You can purchase building coverage only, contents coverage only, or both.
MYTH: Homeowners insurance covers flooding.
FACT: Flood is almost always excluded from Homeowners policies.
MYTH: Federal Disaster Assistance will pay for flood damage.
FACT: Before a community is eligible for disaster assistance, it must be declared a "federal disaster area" - this happens in less than 50% of flooding incidents. The most typical form of disaster assistance is a LOAN that must be repaid....with interest.
MYTH: If the weather bureau predicts a storm will hit my area, I'll buy a flood policy before it hits.
FACT: You can purchase flood coverage any time, but there is a 30-day waiting period before coverage takes effect (unless coverage is purchased in connection with making settlement or refinancing -or- is made within 13 months of the effective date of a revised community flood map).
MYTH: Flood insurance is expensive.
FACT: The low-cost Preferred Risk Policy is ideal for homes and businesses in low- to moderate-risk areas. We can even accept payment by credit card!
MYTH: Flood insurance is difficult to get.
FACT: We can give you a quote over the phone in about 3 minutes, and we can even accept payment by credit card! Most paperwork can be done via phone, fax, or email.
Call us to discuss your options today.
RELATED LINKS
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Top 10 Facts for Consumers about Flood Insurance
After the Flood - Tips
Emergency Supplies Checklist
Flood Damage - Are You Covered?
Flood Insurance Claims Handbook
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