There is a lot to consider when you are thinking about buying flood insurance. If you have read any of our blogs in the past, you know that there are a lot of myths out there and that you need to do some research before you make such a huge decision. At Superior Flood, we think that there are a few more things that you should know when you are debating purchasing flood insurance.
Flooding is the number one disaster in the U.S.
In the past 50 years, every state has experienced the result of torrential rainfall. Whether the rain comes all at once in a flash flood or over the course of several days of rain, flooding is the number one disaster in the United States. It is also very expensive. The average flood claim, according to FEMA, from 2008-2012 was $42,000.
What does flood insurance cover?
Most people don’t know what flood insurance covers, so we thought that we would take the time to cover the basics here. A standard flood insurance policy covers the building and the contents inside the building. Check with your flood insurance agent to make sure your basement, crawlspace or lower floors are covered. Flood insurance will cover up to $250,000 in property damage and up to $100,000 in personal property. This means that the policy covers the building and the foundation, electrical and plumbing, AC and furnace, some appliances, flooring, clothing, furniture and electronics and the like.
We have more things to discuss when it comes to flood insurance, so make sure to check back with us next week to find out what those things are!