April 26, 2021

Do You Need Flood Insurance?

In New England, we surely aren’t immune to floods. In fact, all 50 states are at risk of floods and flash floods. 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.

“Isn’t flood insurance covered on my homeowners policy?”

No, it is not covered on your insurance policy. 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.

“When can I purchase a flood policy?”

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.

“Do I really need flood insurance?”

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.

The description herein is a summary only, and does not include all terms, conditions and exclusions of the coverage described.  Please refer to the actual policy for complete details of coverage and exclusions.  Not all insurance coverages or products available in all states and issuance of coverage is subject to underwriting.