Flood Insurance 101

When it comes to natural hazards, floods happen often and typically cause the most property damage and loss of life. You may think that it is all about rain, but there are many other causes of flooding, including winter storms, melting snow, and hurricanes. According to FEMA, even one inch of floodwater can cause damage to your home or condo. With rising water levels and climate change, almost nowhere is safe from the potential of flooding. Thirty percent of all flood insurance claims are from areas of low to moderate risk. In Aston, PA, Fulginiti Insurance is there to help answer any questions you may have about flood insurance. 

Where to Find a Policy

FEMA administers the National Flood Insurance Program but it doesn’t actually sell you the insurance. You need to buy flood insurance from a local agent. You can contact the NFIP if you need to locate an insurer who sells flood insurance. All agents who sell flood insurance through the NFIP program charge the same price for the coverage in the same area, the price is set by the government program. So it is wise to choose one that you know will be easy to deal with if you ever have a claim. The program limits the structure coverage to $250,000 and contents to $100,000. It doesn’t pay for a place for you to stay while your home is being repaired. 

Private flood insurance is also available and it does have some advantages, it is not limited to $250,000 home coverage and $100,000 like the NFIP policies. So, if you have a more expensive home and a lot of property, it may be a better option. It may also pay for your living expenses while you are unable to live in your home. 

When it comes to flood insurance, you have options. In Aston, PA, Fulginiti Insurance is happy to discuss your options with you. Why not stop by our office or give us a call for a no-obligation quote.