Protect your home with a Flood Endorsement from Team Insurance
Flood insurance is an essential policy that you definitely should consider. If you live in an area that has high risk, it may be even required by the government that you purchase insurance. No matter what carrier you select, the costs of the policy will be the same, because it is sold under an umbrella of a governmental National Flood Insurance Program (NFIP).
If you have Homeowners Insurance at the moment, keep in mind that it does not protect your home or belongings in the event of flood. We at Team Insurance understand how important it is to have this additional layer of protection for your property. Our experts will help you select the right Flood Insurance Policy.
Things to Consider:
Purchasing Flood Insurance might not seem necessary, but if you think carefully about it, even a few inches of water can cause serious damage to your property. The damage caused by excess water can cost you thousands of dollars to repair and restore your home to its original state. Consider this: it can take less than one foot of water to cause damage of $39,000 on average.
Even if you do not live near water source, floods can happen. According to statistics, a quarter of claims occur in low-risk areas. Not only rivers or lakes are the reason why floods occur. They can also happen as a result of clogged storm drains, snow melts, dam or levee failures, collapsed swimming pools, or broken water mains. If you want to keep your home and belongings secure, make sure it is covered from floods.
Speak to our agent to discover the policy suitable for you. Depending on your history of floods and location of your home, the following types of policies are available.
Standard Flood Insurance Policies
Standard policy can cover your property if your community participates in the NFIP. The program was established by the Federal Government in order to reduce the damage from floods in the future. If you decide to enroll in a standard insurance policy for floods, you must have separate applications for building coverage and contents coverage. The disaster is considered a flood if it damages at least two properties or covers at least two acres.
Preferred Risk Flood Insurance Policies
In case you live in a low or moderate risk zone, you can qualify for a cost efficient preferred risk policy. Even though there is no legal requirement to purchase insurance for floods in low-to-moderate risk areas, there is still a possibility of something small happening or larger flood extending to your area, so it is important to protect your home from these risks.
Flood Insurance provides protection for the following:
- The covered building and its foundation
- Plumbing and electrical systems
- Cooking stoves, refrigerators, and built-in appliances
- Water heaters, furnaces, and central air conditioning
- Window blinds
- Debris removal
- Detached buildings and garages
- Permanently installed cabinets, bookcases, wallboard, and paneling
- Permanently installed carpeting