How Can Flood Insurance Help?

Flooding may not engender the same reaction as an earthquake, but it's no less dramatic or destructive. Living in a designated flood zone area dictates the purchase of Flood Insurance; however, businesses and homeowners can purchase Flood Insurance whether in a high-risk flood area or not. Flood Insurance from private companies is supplemental to Homeowners Insurance and is priced according to the location of the home. Homes closer to the mapped-out flood area will cost more to insure.

Coverage naturally includes expenses to pay for the home and its contents, or for home repairs. Coverage might be for a pre-set amount, which remains firm should the actual costs exceed the projected sum needed to pay for the damages. Transient living expenses are out-of-pocket, as are landscape costs, wreckage clearance, loss of business, and reproduction of documents, unless the policy is written to include them. Rebuilding costs should include structural and property upgrades to fall in line with current floodplain and building codes.

The National Flood Insurance Program (NFIP) was established to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” Compliance with all requirements and objectives of the program results in eligibility for the residents of these communities to purchase federally-backed Flood Insurance at reduced rates. It is to the advantage of both homeowners and communities to become a part of this program, or at least to purchase Flood Insurance. In the event of a flood, losses will be minimized and assets preserved.

At Larsen Flynn Insurance, we understand that floods are unforeseen disasters. Although you cannot avoid a flood, you can be protected from the resulting damage. Use our quick and easy online quote form to see the Flood Insurance options we offer.