Flood Insurance: Explained

Flood Insurance: Explained

March 31, 2017
Share |

Spring is here and rainy weather increases the for flooding, flooding that is a real possibility throughout the country, especially along the coastline here in Bristol and Warren, Rhode Island. Many homeowners don’t think they need flood insurance or they make the mistake of thinking homeowners insurance also covers flood damage.

According to the Insurance Information Institute, there is no coverage for flooding in standard homeowners or renters policies or in most commercial property insurance policies. Merely a few inches of water can result in thousands of dollars in repair and restoration costs.  Flooding from rain does not just happen along the coast or near a body of water, it can happen to anyone! Whether you reside in a flood zone or not, it’s protection that isn’t covered in your homeowners policy but needs to be in place to protect your family!

Most flood insurance is written through the National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA), part of the Department of Homeland Security.

Disasters such as Hurricane Katrina in 2005, the Mississippi floods of 2011, Hurricane Irene in 2011 and superstorm Sandy in 2012, have detailed the importance of flood insurance but homeowners often overlook it. Rhode Island even witnessed historic flooding in March of 2010.

You can view the Rhode Island Emergency Management Association’s website and take a look at FEMA’s flood zone mapping tool. It will give you clearer picture of where the updated flood risks are. Now is the time to check out if a flood policy is right for you.

Other helpful website links include:

Don’t wait until it is too late! Floods are considered the number one natural disaster in the United States in the U.S., but protecting against the damage they cause is easy. At John Andrade Insurance, we will work with you to personally assess your risk exposures and provide you with the most competitive price. We understand the importance of protecting you, your assets and your family, which is representative of our 80+ years in business. To learn more about our offerings, contact our office today at (401) 253-6542. Allow us to help you obtain a flood insurance policy that maximizes the security of your home and property.