March 27, 2019
In New England, we surely aren’t immune to floods. In 2018, Boston set coastal flood records as ocean water continued to rise. According to the III, flooding is the most common and costly natural disaster in the United States. Yet, many people are not protected with flood insurance.
No, it is not covered on your insurance policy. In fact, it is specifically excluded from your policy coverage. If you are considering purchasing homeowners insurance, contact your agent. He or she will investigate the National Flood Insurance Program for you.
You can purchase a flood policy at any time through your independent agent. However, you should know that there is a 30-day waiting period. If you know a hurricane is hitting your area, you couldn’t purchase coverage a few days before.
If your home falls in a high-risk flood plain, your mortgage lender is legally mandated to require flood coverage. If your home doesn’t fall in a high-risk area, it’s up to you to make the decision. Contact your agent for more information.