If there happens to be a flood in your hometown, will your home be protected by flood insurance? That can depend on things like the overall value of your home as well as the extent of the water damage and whether or not you have taken out a flood insurance policy.
Your typical homeowner's insurance policy will not provide any sort of coverage for water damage caused by floods. If you have a policy through the National Flood Insurance Program, that will top out at $350,000 for your goods and your home. What if your home is worth more than that though? You might need to check out supplemental coverage to make sure that you are protected.
Some people might be of the belief that in order to get flood insurance, you have to live in a flood plain. This is simply not the case. In fact, if you do happen to live in a flood plain, the company you have your mortgage with might make flood insurance a requirement. However, anyone can purchase flood insurance regardless of living in a flood plain or not.
Regardless of where you live though, the best time to get flood insurance is right now. This is because there will be a 30 day waiting period between the times you purchase the coverage and when the coverage actually begins.
If you are interested in learning more about flood insurance and what it will and will not cover, call or come by Risk Reduction Plus Group, Inc. today. We have friendly and knowledgeable agents standing by to help you.