Should you get flood insurance?


A flood can damage a home more than a fire, as stated by the National Flood Insurance Program agency. Floods can do unseen damage to the structure of the home causing long term problems. Most home insurance only cover losses caused by fire. These losses can amount to thousands of dollars or even more. This great loss can be very disturbing especially if your home insurance won’t cover the damages. Properties ruined by floods are not covered by a typical home insurance. What is flood insurance and how can one benefit from it?

A Flood Insurance is purchased to protect the contents of your home such as appliances like fridges, washers and dryers. Contrary to what some people know, typical flood insurance will not cover basement enhancements on walls, floors, or ceilings. It takes effect after a month of waiting period. It will not also insure any personal properties from the basement. It is the difference of flood insurance from home insurance. A home insurance can cover household improvements depending on the immensity of damage. All sorts of homes and condos are entitled for flood insurance.

There are certain insurance companies which partner with flood-management agencies to provide such service. For an instance, Erie Insurance works with the American Bankers Insurance Company to provide flood coverage options to its representatives.

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