04 Jun Flood Insurance — You have a 26% chance of losing thousands of dollars
Your home has a 26% chance of being damaged by a flood over the life of a 30 year mortgage.
Floods are the #1 natural disaster in the United States. Your homeowner’s policy does not cover damage to your home and property due to floods.
You can live miles away from water and still be a victim of flooding. On average, 25-30% of flood insurance claims come from low-to-moderate risk areas. That’s partly because it doesn’t take a major body of water, or even a major storm, to cause a flood. Anything from a broken sewer line to a slow moving rainstorm can cause flooding.
Just a few inches of water from a flood can cause thousands of dollars in damage.
If you are in a Special Flood Hazard Area, the law requires flood insurance in an amount equal to the outstanding principal balance of the loan on your home, the value of the building, or the maximum coverage available, whichever is less. Flood insurance must also be maintained for the life of the loan.
Although it is only required for the coverage to be in the amount of the loan balance, you should seriously consider protecting your equity and fully insure the home and its contents in case of a flood.
Flood insurance protects your largest asset, your home. For a modest annual premium, you can have peace of mind that you will be covered for your eligible losses.
Flood insurance is just one of many policies that our insurance division provides.
Since Unbehagen Insurance, Inc. is independent, we can compare prices, of all possible insurances, among many well-known and established insurance companies! Once you are a client, we continue to do this yearly at no additional fee – FOR YOU!
Ten (10) minutes is all it takes for a quote! Simply call me today. I’m Tracy, the director of Unbehagen Insurance, Inc.
I love to save clients their hard-earned money!
Director of Insurance
Unbehagen Insurance, Inc., a division of Unbehagen Advisors