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Flood Insurance

Life can be insanely unpredictable. One minute you’re playing backgammon in your basement, and the next, you are knee deep in water. The high costs of flood repairs make flood insurance a “must buy” for homeowners. Yet many of them do not purchase it. Many folks are under the impression that flood insurance is covered by their homeowners insurance. This isn’t true, and the misconception could cost them dearly down the road.

Water damage is a major headache for homeowners. Thousands of dollars in damages can be caused by just a few inches of water. Melting snow, a major rain storm, and bursting pipes are all common ways for floods to occur. Unfortunately, it can be very difficult to predict when a flood will happen. They usually strike quickly and without prior warning. A major catastrophic event like this can cause crippling financial problems. Unless you are willing to risk spending tens of thousands of dollars for water damage repairs, you should buy insurance right away.

Purchasing a high quality policy will give you the peace of mind of knowing that you will be compensated if a flood occurs. There is typically a thirty day waiting period before the insurance takes effect, so it is important to act quickly. Insurance rates depend on circumstances related to your property and the area that you live. If you are in an area with a high flood risk, your premiums will be more expensive than someone who lives in the middle of a desert.

This type of insurance can be purchased by both homeowners and businesses. If your home or office experiences a flood, contact your agent to file a claim. If your claim is approved, you will receive a payout for the amount needed to repair the flood damage